Top cryptocurrency exchange Coinbase has announced an additional 8 tokens to be available to its German resident users. This move is to attract more investors to the platform. According to the update which was shared on X (formerly Twitter), German residents can now trade HNT, BLUR, ARB, EGLD, 00, AUDIO, LDO, and ATA.
This is a significant step for the Coinbase German community. Residents can now perform transactions such as buying, selling, converting, and storing the aforementioned assets on the platform.
HNT, BLUR, ARB, EGLD, 00, AUDIO, LDO, ATA are now available to Germany residents.
— Coinbase Assets 🛡️ (@CoinbaseAssets) July 25, 2023
Coinbase made the decision to include these additional assets for its German users as part of its strategy to expand its operations to the European market and cater to the ever-growing demand for cryptocurrencies.
In terms of cryptocurrency adoption, Germany stands as one of the countries at the forefront. Therefore, this move is expected to attract a host of new users to the platform amidst its ongoing legal battle with the Securities and Exchange Commission.
Reacting to this, Coinbase’s CEO expressed his excitement about welcoming new German users to the platform. According to him, the company is excited to make these tokens available in the region. He asserted that the move is in accordance with Coinbase’s mission to create an open financial system for everyone. He added that the crypto giant company is committed to providing its services to customers globally.
Coinbase regulatory problems
Meanwhile, Coinbase is facing lawsuits from the United States Securities and Exchange Commission. The regulator alleges that the crypto exchange offers a number of digital assets which were classified as securities.
Following the lawsuit, Coinbase has tried its best to navigate carefully through the regulatory landscape in the United States. While the company has worked towards expanding its operations globally, it has also ensured its constant compliance with U.S. securities laws.
In an effort to resolve authorities’ concerns about the categorization of tokens, Coinbase has been working extensively with regulators. In order to comply with legal standards, the exchange has put tight controls in place, such as carefully reviewing newly listed assets and upholding Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.