Coinbase Global Inc. (NASDAQ:COIN) received an Australian Financial Services License to offer retail derivatives trading as COIN tests $170 support zone for the second time since February’s $143 low.
The Australian License
Coinbase announced Tuesday it received the AFSL through its local entity, authorizing the company to offer retail derivatives trading in Australia.
The license is the first of its kind granted to a crypto exchange in the region.
Coinbase Australia will offer crypto and equity perpetuals to Australian investors, followed by futures and options.
“We’re going to compete with traditional financial services on stock trading, payments, and other TradFi products with the speed and execution of crypto,” the company said.
The AFSL subjects Coinbase Australia to the same conduct, disclosure, governance, and consumer protection requirements as traditional institutions.
The authorization precedes incoming legislation under the Corporations Amendment (Digital Assets Framework) Bill 2025, which would require all crypto exchanges to hold a license.
Coinbase Australia, established in 2022, is part of the Digital Economy Council of Australia, helping shape digital asset regulation in the region. The company has recently expanded its legal, compliance, marketing, and operations teams.
The U.S. Expansion
Coinbase recently received conditional approval for a national trust company charter from the U.S. Office of the Comptroller of the Currency.
This will enable continued innovation to integrate digital assets into traditional finance.
COIN Technical Analysis
Coinbase stock closed nearly flat at $175.18, up 0.22% on Tuesday, but is gaining momentum in premarket trading with a 5% jump toward $184.
However, the daily chart shows a stock that has been broken since its $460 peak in July 2025.
The recent bounce toward $210 looked promising but got sold hard, and price is back testing the $170 support zone for the second time.
Both the Supertrend at $198.06 and SAR at $185.02 sit above current price, keeping the daily bias bearish.
The horizontal line at $231.65 is the major resistance level that defined the breakdown. Reclaiming it would be a significant shift.
Key support sits at $166 (today’s low), then $143 (February floor). Resistance clusters at $185.02 (SAR), then $198.06 (Supertrend), then $231.65.
Image: Shutterstock
Comments (0)