Posted 2/19/2024, 9:02:00 PM
Coinbase Bets on Canada for Crypto Growth Despite Regulatory Hurdles
- Coinbase expanded to Canada in March 2022 as part of efforts to increase international presence
- Canada has more regulatory clarity on crypto than the U.S., though rules are more conservative
- Coinbase seeking to introduce new products like derivatives in Canada as a "sandbox" before the U.S.
- Some crypto exchanges exiting Canada due to strict new regulations, but Coinbase doubling down
- Crypto adoption still faces challenges in Canada with only 13% estimated to use crypto currently