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Coinbase Wins EU-Wide MiCA License in Luxembourg, Shifts Hub From Ireland
In a significant breakthrough, digital currency exchange and wallet service provider, Coinbase has been granted the coveted Markets in Crypto Assets (MiCA) license by Luxembourg’s financial regulator, Commission de Surveillance du Secteur Financier (CSSF). This development paves the way for the company to offer its comprehensive suite of crypto services to all 27 European Union member states, effectively creating a massive market of approximately 450 million residents.
Coinbase has now announced plans to relocate its EU headquarters from Ireland to Luxembourg. The relocation is reportedly driven by Luxembourg’s progressive stance on digital innovation and financial infrastructure, which aligns with Coinbase’s commitment to fostering a supportive environment for blockchain-based businesses.
The MiCA license is an essential step in the growth of regulated crypto infrastructure across Europe. It allows Coinbase to expand its services within the EU and reinforces the exchange’s dedication to providing secure and reliable transactions to users. The achievement signifies that Coinbase will not only be able to offer digital currency exchanges but also staking, lending, and other financial activities.
Coinbase, which had previously been operating in Ireland under temporary authorizations, is shifting its European operations to Luxembourg as it expands into the region. This move marks a critical moment for the company’s growth, particularly in terms of building upon existing relationships with institutional clients in the area.
CEO Brian Armstrong expressed his excitement about the regulatory approval in a tweet post stating, “It was great to meet with Luxembourg Prime Minister and very welcoming ministers while announcing the receipt of our MiCA license from CSSF. Time to take crypto adoption in Europe to the next level.”
Source: www.coinspeaker.com
