Coinbase Secures EU Cryptocurrency License, Moves EU Headquarters from Ireland to Luxembourg

BlockBeats News, June 20, the U.S. cryptocurrency exchange platform Coinbase has obtained a crypto service license in Luxembourg and will use the country as its primary operational hub in Europe.

Since 2023, Coinbase has been using Ireland as its European headquarters. Coinbase announced on Friday that it has received the "Markets in Crypto-Assets Regulation" (MiCA) license from Luxembourg's financial regulator CSSF (Commission de Surveillance du Secteur Financier). MiCA is a comprehensive regulatory framework covering all 27 EU member countries, aiming to establish a unified legal framework for the crypto market. The regulation has been fully effective since the end of last year, with the goal of reducing consumer risks when purchasing crypto assets following a series of scandals in the crypto industry.

This makes Coinbase the first U.S. crypto exchange platform to obtain a MiCA license. Its competitor Gemini, founded by the Winklevoss twins, is also expected to soon receive an EU license from Malta. Gemini selected Malta as its MiCA headquarters location in January of this year.