Key Takeaways
- Coinbase obtained a MiCA license from Luxembourg, enabling crypto providers throughout all EU member states.
- The license consolidates earlier European operations underneath one regulatory framework.
Coinbase introduced Friday that it has secured a Markets in Crypto-Assets (MiCA) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), the nation’s major monetary regulator tasked with supervising and regulating the monetary sector.
With this license, the main US trade can now roll out its full portfolio of crypto services and products throughout all 27 EU international locations, unlocking entry to a possible market of 450 million individuals, the corporate mentioned.
Coinbase can be anchoring its European hub in Luxembourg as a part of its MiCA-compliant progress plan within the EU. The transfer reinforces the area’s place as a maturing international crypto market with rising institutional credibility.
Luxembourg has emerged as a strategic alternative for Coinbase’s European operations, having handed 4 blockchain-related insurance policies by way of its nationwide legislature. The nation has adopted a “whole-of-government method” to blockchain and distributed ledger know-how, based on Coinbase.
“This new hub represents a landmark step ahead for Coinbase in Europe and strengthens the broader innovation ecosystem,” Coinbase mentioned within the announcement.
The firm had beforehand obtained licenses in a number of European international locations, together with Germany, France, Ireland, Italy, the Netherlands, and Spain.
A variety of different main crypto exchanges are additionally working in compliance with MiCA, together with Bybit, OKX, Crypto.com, and Bitstamp. OKX and Crypto.com chosen Malta as their European base for MiCA licensing, whereas Bybit selected Austria.
