Coinbase, one of the largest cryptocurrency exchanges in the U.S., has received a Markets in Crypto Assets (MiCA) license from Luxembourg's financial regulator. This will enable the firm to offer its services across the European Union.
Significance of the MiCA License
The license issued by Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) makes Coinbase the first major U.S. crypto firm to obtain full authorization under MiCA, a landmark regulation that provides unified oversight for cryptocurrencies across all 27 EU member states.
Choosing Luxembourg as the Main Office
Coinbase also announced that Luxembourg would become its primary base in Europe, reversing its earlier decision to establish operations in Ireland. 'This wasn’t about Ireland falling short — it was about Luxembourg presenting a better option,' said Daniel Seifert, Vice President of Coinbase.
Impact of MiCA License on Coinbase Operations in the EU
With the MiCA license in hand, Coinbase can now 'passport' its services across the EU — offering everything from crypto trading to custody without the need for separate national authorizations in each country. CEO Brian Armstrong emphasized, 'Coinbase is all in on Europe.'
The MiCA license opens new opportunities for Coinbase in Europe and strengthens its position on the international stage. As other exchanges also seek similar licenses, Coinbase's success may signal further investments in the European crypto market.
