Coinbase wants to be Canada’s ‘everything exchange,’ but says clearer rules are needed first
Coinbase is seeking to expand its financial services in Canada but emphasizes that a clearer, bespoke legislative framework for digital assets is required. The company argues that current reliance on regulatory notices is insufficient for launching sophisticated blockchain-based products.
Why it matters
This reflects the broader tension between crypto firms seeking institutional growth and the need for comprehensive government regulation in the financial sector.
Richmond said the firm ultimately wants to expand beyond just a crypto trading platform, instead offering a broader suite of financial products built on blockchain infrastructure.
"We want to have all your financial services in one place," Richmond said in an interview with CoinDesk at the Blockchain Futurist Conference in Toronto. "We want to be that everything exchange... underpinned by this technology, where it's 24/7, seamless, frictionless."
However, delivering on that vision in Canada depends largely on the country's regulatory framework, according to Richmond.
"We just need to find the regulated path to get launches to Canadians, and we've started to do that," said Richmond. He has been deeply involved in the Canadian digital assets landscape from his former executive roles in companies including Shakepay and Coinsquare.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in