Coinbase has received a license to store Cryptocurrency in Germany

This will allow the site to continue serving customers in the country. Coinbase shares already rise 5% to $ 240

Coinbase, the largest cryptocurrency exchange in the United States, has received permission from the German Federal Financial Supervision Authority (BaFin) to store cryptocurrency, which allows the site to continue serving customers in the country. After that, the value of the shares of the crypto exchange increased by 5% and reached $ 240.

Coinbase shares have been listed on the NASDAQ stock exchange since April 14, 2021. Immediately after the opening of trading, the share price reached $ 381 with a set reference price of $ 250.

Within a few hours, the shares rose in price by 12.5% ​​to $ 429.5, but then quotations fell to a local minimum of $ 315. The closing price on the first day of trading was $ 328.28.

At the end of 2019, the German parliament ordered all organizations that store cryptocurrency to obtain a license to operate in BaFin. Coinbase was the first crypto exchange to receive this license.

On June 24, it became known that Coinbase received permission to work in Japan. A subsidiary of the crypto exchange received a corresponding license from the Japanese Financial Services Agency (FSA), which controls financial activities in the country.