POLAND – 2023/08/01: In this photo illustration, a Coinbase logo displayed on a smartphone with stock server lights in the background. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images)
Sopa Images | Lightrocket | Getty Images
Cryptocurrency exchange Coinbase secured registration with the French markets regulator, a company spokesperson confirmed Thursday, paving the way for the firm to expand its services in another key European market.
France’s AMF watchdog gave Coinbase a virtual asset service provider (VASP) approval, which is effectively a green light for the company to operate digital currency services in France.
The VASP registration will allow Coinbase to offer custody of digital assets, buying or selling digital assets in legal tender, trading of digital assets against other digital assets, and operating a digital asset trading platform, the company said in a statement Thursday.
French regulators, like others in Europe, have been playing catch-up with the emergence of new technologies like crypto and blockchain, balancing their potential in improving payment systems and trading while also looking to ensure consumers are protected.
The European Union has been working to introduce its Markets in Crypto Assets (MiCA) regulation, which would create a harmonized framework for crypto companies to operate in a regulated way in the bloc.
Under MiCA, rather than having to secure registration in every EU market, crypto companies will eventually be able to use their VASP license in one country and “passport” into other countries to offer their services across the EU.
The VASP registration represents a big move from U.S.-based Coinbase to expand in Europe, which comes at a crucial time with the exchange facing a more uncertain regulatory environment in its home country.
U.S. regulators have taken harsh actions against crypto companies lately. In November, the U.S. Department of Justice reached a settlement with crypto giant Binance which saw the company pay more than $4 billion while its CEO stepped down, pleading guilty to a felony charge that he failed to take steps to prevent money laundering at the firm.
The Securities and Exchange Commission, meanwhile, has led an aggressive campaign against the sector, targeting crypto companies with strict enforcement actions, including lawsuits against both Coinbase and rival Binance that allege the firms are engaged in illegal dealings of securities.
The SEC views several crypto tokens as being securities, a classification which would require them to seek registration with the watchdog. That would require copious transparency from companies and token issuers themselves, including financial disclosures and other paperwork.
Coinbase has fired back at the SEC, saying it has worked to ensure it is in compliance with financial regulations. The company is calling for new rules specifically for crypto in the U.S. to end what it has called “regulation by enforcement,” where the regulator is hitting companies with penalties in individual cases rather than setting clear rules for the road.
France has been positioning itself as a leader in technology lately, touting its prowess in technologies such as artificial intelligence and cloud computing, as part of President Emmanuel Macron’s bid to make the country a global tech hub.
The country has committed 34 billion euros ($36.5 billion) of investments, including subsidies and state funding, over five years as part of its “France 2030” plan, which aims to make the country a leader in and so-called “Web3,” among other things.
The country is home to Ledger, one of the biggest providers of crypto custody services, last valued at $1.4 billion. Separately, the likes of Circle, Binance and Crypto.com have all made Paris their European base. Only recently, Circle, which issues the popular stablecoin USD Coin, received its own French VASP license by the AMF.
France is seeing increased crypto adoption even as prices have taken a tumble in the wake of multiple bankruptcies and collapses.
According to data firm Toluna, 10% of French adults currently own crypto assets while 24% plan to buy, sell, or trade crypto in the next 12 months.
Inside a secretive set of buildings in Santa Barbara, California, scientists at Alphabet are working on one of the company’s most ambitious bets yet. They’re attempting to develop the world’s most advanced quantum computers.
“In the future, quantum and AI, they could really complement each other back and forth,” said Julian Kelly, director of hardware at Google Quantum AI.
Google has been viewed by many as late to the generative AI boom, because OpenAI broke into the mainstream first with ChatGPT in late 2022.
Late last year, Google made clear that it wouldn’t be caught on the backfoot again. The company unveiled a breakthrough quantum computing chip called Willow, which it says can solve a benchmark problem unimaginably faster than what’s possible with a classical computer, and demonstrated that adding more quantum bits to the chip reduced errors exponentially.
“That’s a milestone for the field,” said John Preskill, director of the Caltech Institute for Quantum Information and Matter. “We’ve been wanting to see that for quite a while.”
Willow may now give Google a chance to take the lead in the next technological era. It also could be a way to turn research into a commercial opportunity, especially as AI hits a data wall. Leading AI models are running out of high-quality data to train on after already scraping much of the data on the internet.
“One of the potential applications that you can think of for a quantum computer is generating new and novel data,” said Kelly.
He uses the example of AlphaFold, an AI model developed by Google DeepMind that helps scientists study protein structures. Its creators won the 2024 Nobel Prize in Chemistry.
“[AlphaFold] trains on data that’s informed by quantum mechanics, but that’s actually not that common,” said Kelly. “So a thing that a quantum computer could do is generate data that AI could then be trained on in order to give it a little more information about how quantum mechanics works.”
Kelly has said that he believes Google is only about five years away from a breakout, practical application that can only be solved on a quantum computer. But for Google to win the next big platform shift, it would have to turn a breakthrough into a business.
An attendee wearing a Super Mario costume uses a Nintendo Switch 2 game console while playing a video game during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention centre in London, Britain, April 11, 2025.
Isabel Infantes | Reuters
Nintendo on Friday announced that retail preorder for its Nintendo Switch 2 gaming system will begin on April 24 starting at $449.99.
Preorders for the hotly anticipated console were initially slated for April 9, but Nintendo delayed the date to assess the impact of the far-reaching, aggressive “reciprocal” tariffs that President Donald Trump announced earlier this month.
Most electronics companies, including Nintendo, manufacture their products in Asia. Nintendo’s Switch 1 consoles were made in China and Vietnam, Reuters reported in 2019. Trump has imposed a 145% tariff rate on China and a 10% rate on Vietnam. The latter is down from 46%, after he instituted a 90-day pause to allow for negotiations.
Nintendo said Friday that the Switch 2 will cost $449.99 in the U.S., which is the same price the company first announced on April 2.
“We apologize for the retail pre-order delay, and hope this reduces some of the uncertainty our consumers may be experiencing,” Nintendo said in a statement. “We thank our customers for their patience, and we share their excitement to experience Nintendo Switch 2 starting June 5, 2025.”
The Nintendo Switch 2 and “Mario Kart World“ bundle will cost $499.99, the digital version “Mario Kart World” will cost $79.99 and the digital version of “Donkey Kong Bananza” will cost $69.99, Nintendo said. All of those prices remain unchanged from the company’s initial announcement.
However, accessories for the Nintendo Switch 2 will “experience price adjustments,” the company said, and other future changes in costs are possible for “any Nintendo product.”
It will cost gamers $10 more to by the dock set, $1 more to buy the controller strap and $5 more to buy most other accessories, for instance.
An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn.
Victor J. Blue/Bloomberg via Getty Images
Etsy is trying to make it easier for shoppers to purchase products from local merchants and avoid the extra cost of imports as President Donald Trump’s sweeping tariffs raise concerns about soaring prices.
In a post to Etsy’s website on Thursday, CEO Josh Silverman said the company is “surfacing new ways for buyers to discover businesses in their countries” via shopping pages and by featuring local sellers on its website and app.
“While we continue to nurture and enable cross-border trade on Etsy, we understand that people are increasingly interested in shopping domestically,” Silverman said.
Etsy operates an online marketplace that connects buyers and sellers with mostly artisanal and handcrafted goods. The site, which had 5.6 million active sellers as of the end of December, competes with e-commerce juggernaut Amazon, as well as newer entrants that have ties to China like Temu, Shein and TikTok Shop.
By highlighting local sellers, Etsy could relieve some shoppers from having to pay higher prices induced by President Trump’s widespread tariffs on trade partners. Trump has imposed tariffs on most foreign countries, with China facing a rate of 145%, and other nations facing 10% rates after he instituted a 90-day pause to allow for negotiations. Trump also signed an executive order that will end the de minimis provision, a loophole for low-value shipments often used by online businesses, on May 2.
Temu and Shein have already announced they plan to raise prices late next week in response to the tariffs. Sellers on Amazon’s third-party marketplace, many of whom source their products from China, have said they’re considering raising prices.
Silverman said Etsy has provided guidance for its sellers to help them “run their businesses with as little disruption as possible” in the wake of tariffs and changes to the de minimis exemption.
Before Trump’s “Liberation Day” tariffs took effect, Silverman said on the company’s fourth-quarter earnings call in late February that he expects Etsy to benefit from the tariffs and de minimis restrictions because it “has much less dependence on products coming in from China.”
“We’re doing whatever work we can do to anticipate and prepare for come what may,” Silverman said at the time. “In general, though, I think Etsy will be more resilient than many of our competitors in these situations.”
Still, American shoppers may face higher prices on Etsy as U.S. businesses that source their products or components from China pass some of those costs on to consumers.
Etsy shares are down 17% this year, slightly more than the Nasdaq.