Coinbase ensures mica license in Europe and Luxembourg will be its new headquarters

By Hannah Pérez

Coinbase is the first American exchange to ensure a mica license. He will move his European headquarters from Ireland to Luxembourg after obtaining a permit in that country.

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• Coinbase is the first American exchange to ensure a mica license.
• The license allows you to offer your cryptocurrency services to users throughout the EU.
• He will move his European headquarters from Ireland to Luxembourg after obtaining permission in that country.

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Coinbaseone of the greatest exchanges of cryptocurrencies in the United States, has taken a decisive step by obtaining a license in Luxembourg that will allow it to offer cryptocurrency services to users throughout the European Union.

The company secured an authorization from the Luxembourg Financial Surveillance Commission (CSSF) that will allow it to operate its cryptocurrency platform regulated under compliance with the Crypto Market Law (MICA).

Coinbase He shared the news in a statement on Friday, describing the progress as a “milestone” that will open the door to 450 million people in the 27 Member States of the European Union to its full range of cryptocurrency products.

Approved in April 2023, Mica is the comprehensive regulatory framework of the European Union to regulate cryptocurrencies and related services. Among its provisions, the regulations require that cryptocurrency services suppliers as exchanges are registered as legal entities and obtain authorization in an EU Member State to be able to operate throughout the block.

In recent years, Coinbase He has collaborated closely with regulators from all over Europe, obtaining licenses in Germany, France, Ireland, Italy, the Netherlands and Spain. However, This marks the first time that the company ensures a permit under the framework of the Mica Lawwhich entered into force in its entirety in December 2024.

“Now, with Mica, we join these efforts under a unique frame, allowing millions of Europeans to access regulated, reliable and safe cryptocurrency services“, wrote Coinbase In a blog post.

Coinbase moves its European headquarters to Luxembourg

As part of this achievement, Coinbase He also reported that he has selected Luxembourg as his new European headquarters.

Before this strategic movement, the main European headquarters of Coinbase He was in Ireland after the opening of offices in 2023, accompanied by a wide public relations campaign. However, the company has now opted to radically change its strategy and Move your operating center to Luxembourg.

In accordance with statements granted to CNBC By Daniel Seifert, vice president and regional director of EMEA in Coinbasethe decision was oriented more by the regulatory opportunities and the pro-negocios of Luxembourg than for a discontent with Ireland.

“Luxembourg has always been a key actor in the European financial ecosystem, and we are pleased to announce that Coinbase is officially establishing its European Cryptocurrency Center in this dynamic country, under the regulatory framework [MiCA]“The company said.

Currently, Luxembourg has four policies related to Blockchain which are approved by law, while Ireland still does not have specific legislation in the crypto sector, a difference that inclined the balance, details CNBC.

THE FIRST EXCHANGE TO OBTAIN A MICA LICENSE

With this step, Coinbase –Which quotes your actions on the bag of Nasdaq– It becomes the first exchange of American cryptocurrencies to receive mica authorization, according to that report.

Approval allows Coinbase Operate with a single license in the 27 EU member countries, facilitating its expansion and guaranteeing greater security to users, while reinforcing the Luxembourg position as “”Visionary Financial Center”In Europe.

“Coinbase is committed to Europe, and we are defending the future of cryptocurrencies throughout the contine“Brian Armstrong, CEO of Coinbasecited by CNBC.

The competition for obtaining the Mica license has intensified in Europe. This week we report that the rival firm Gemini He is waiting for an upcoming approval of the Mica license from Malta, after having declared in January the election of this country as its operations center. Gemini He is also looking to become public in the US.

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Hannah Estefanía Pérez / Diariobitcoin

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