Coinbase Wants to Be Canada’s “Everything Exchange” — But Its New CEO Says Temporary Rules Won’t Cut It Slug: coinbase-canada-everything-exchange

Eric Richmond has run Coinbase’s Canadian operation for barely two months, and he’s already telling regulators their current approach won’t support what he wants to build.

Richmond, who became Coinbase Canada’s country director and CEO in June, is pushing for permanent, harmonized federal rules rather than the case-by-case exemptions the company currently relies on to operate. His argument: expanding into derivatives, tokenized assets, and decentralized finance requires a stable rulebook, not one-off approvals.

The push comes as Coinbase Financial Markets, the firm’s CFTC-regulated U.S. arm, has already secured an international exemption to offer futures contracts to eligible Canadian clients — with that product expected to go live within weeks under the current temporary framework.

Richmond’s broader goal is what he calls an “everything exchange”: a single platform where Canadians manage crypto alongside other financial assets, not just digital tokens. Coinbase is targeting CIRO dealer status in early 2027 as part of that plan.

Whether Canada moves toward the harmonized framework Coinbase wants remains an open question — but the derivatives launch alone will test how much a temporary exemption can actually support before permanent rules become unavoidable.

New to how crypto exchanges are regulated? Check out the Bitcoin Academy.

Disclaimer: The content provided on this page is for informational and educational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile and involve significant risk of loss. Always do your own research and consult a licensed financial advisor before making any investment decisions.