In Luxembourg, on June 13, 2024, Coinbase received regulatory approval under the European Union's Markets in Crypto-Assets (MiCA) framework. This allows Coinbase to offer cryptocurrency services across all 27 EU member states. (Source: Reuters, June 13, 2024)
The MiCA regulation, effective earlier this year, enables crypto companies to operate throughout the EU with a single license. Coinbase plans to hire over 20 people in Luxembourg by the end of the year. This move strengthens its presence in the EU market.
Coinbase previously chose Ireland for its European crypto hub, leveraging its supportive regulatory environment. This strategic approach facilitates expansion across the EU under a unified framework. The approval is a significant step in regulating the cryptocurrency industry within the EU.