Coinbase (COIN) Secures MiCA License in Luxembourg to Accelerate EU Expansion

Coinbase Global, Inc. (NASDAQ:COIN) is one of the 12 best cryptocurrency and blockchain stocks to buy. On June 20, the company secured a license from Luxembourg, paving the way for the company to offer cryptocurrency services across the European Union.

The company secured the Markets in Crypto Assets (MiCA) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF). It is a significant milestone as MiCA seeks to create a harmonized legal framework across all 27 EU member states. Coinbase becomes the first US crypto exchange to receive the license.

“Coinbase is all in on Europe, and we’re advocating for crypto’s future across the continent,” Coinbase CEO Brian Armstrong told CNBC. “MiCA has set the standard, and Luxembourg is leading the way with its pro-business climate and thoughtful approach to regulation.”

Since 2023, Ireland has been Coinbase’s base for European operations. However, with the new license, it will shift its base to Luxembourg, given the country’s forward-thinking financial hub. The country stands out as it has four blockchain-related policies, while Ireland lacks crypto-specific laws. Nevertheless, the company is still investing in Ireland with plans to add around 50 jobs to its local office.

Coinbase Global, Inc. (NASDAQ:COIN) is a financial services company that offers a range of cryptocurrency products and services tailored for retail investors, institutional clients, businesses, and software developers.

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