Coinbase, one of the leading crypto exchanges, has announced the hiring of Lucas Matheson as its new country director in Canada. The addition is expected to bolster the platform's operations and strategic growth in the region. Coinbase stated that the hiring of Matheson comes alongside its signing of an enhanced Pre-Registration Undertaking with Canada's financial regulators Consob and the Autorité des Marchés Financiers.

Matheson, who joins Coinbase after spending five years at Shopify, will be responsible for leading more than 200 engineers based in Canada. Moreover, the exchange stated that its global leadership will make frequent visits to Canadian cities to better understand the country’s market and needs.

Coinbase announced its intent to remain in the country and comply with the impending stricter regulations after fellow crypto exchange Kraken had made a similar announcement on the same day. Furthermore, Coinbase's signing of the Pre-Registration Undertaking with the Canadian regulators highlights its commitment to comply and operate within the new framework.

The new regulations, however, have led some crypto exchanges to exit the country, such as OKX, Deribit and Blockchain.com. Although regulations involving cryptocurrencies remain complex, Coinbase is making sure to stay abreast of Canada's financial regulations and use available resources to achieve its strategic goals in the country.



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