Coinbase Secures Virtual Asset License to Compete in Argentina
Coinbase has obtained a Virtual Asset Services Provider license in Argentina, enabling legal operations in the local crypto market. This positions Coinbase to compete with Binance, which received the same license in October.
Key points include:
- Focus on community engagement and local business ties rather than broader Latin American expansion.
- Commitment to regulatory compliance; recently delisted Tether in the EU and may do so in the US.
- Progress in legal matters with the SEC.
- Argentina is a top country for crypto adoption in South America, with support from President Javier Milei for Bitcoin payments.
- Local entrepreneur Matías Alberti appointed to lead expansion efforts in Argentina.
- Plans to attract users through security, consumer protection, and crypto education initiatives.
- No immediate plans for regional expansion; focus remains on establishing a presence in Argentina.
Coinbase aims to leverage strong public interest and daily crypto use to solidify its position in the competitive Argentine market.