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Coinbase Secures Major EU License, Opens Door to 450 Million Crypto Users
In a significant development for the cryptocurrency market, Coinbase has successfully secured the Markets in Crypto-Assets (MiCA) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF). This major milestone grants the company permission to offer regulated crypto services across all 27 EU member states.
As a result of this approval, Coinbase will now have access to a massive user base of approximately 450 million individuals under a unified compliance model. The company has announced that it will establish its official European hub in Luxembourg, which has shown consistent support for financial innovation and blockchain-friendly policies.
This decision aligns with the EU’s goal of creating harmonized regulation, allowing Coinbase to streamline its operations under one umbrella. This long-term strategy is designed to provide a broader market reach while eliminating regulatory obstacles. Furthermore, it will also ensure a uniform approach to compliance and consumer protection.
The acquisition of the MiCA license demonstrates Coinbase’s commitment to maintaining momentum in rolling out digital asset policies. The company has emphasized the importance of continued support from policymakers to facilitate long-term industry growth.
By securing this license, Coinbase sets a new precedent for centralized crypto regulation in Europe, strengthening its position as a global crypto service provider.
The full release of the MiCA framework allows Coinbase to bypass individual national regulatory approvals and instead operate under one single framework. This is a significant shift in the crypto landscape and paves the way for other companies to follow suit.
Coinbase’s decision to set up its European operations hub in Luxembourg highlights the country’s commitment to supporting financial innovation, thus further solidifying its role as a key player in the global digital asset sector.
The acquisition of this license is a testament to Coinbase’s dedication to maintaining momentum and driving growth in the cryptocurrency market.
Source: blockonomi.com
