Crypto exchange giant Coinbase has announced it has secured a Markets in Crypto Assets (MiCA) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF). This approval allows Coinbase to offer its full suite of crypto services across all 27 European Union member states, establishing Luxembourg as its official European hub.
The move comes as the EU’s comprehensive MiCA framework, which sets out guidelines and regulations for crypto assets, came into full effect at the end of last year. Coinbase’s new license consolidates its previously secured individual licenses in Germany, France, Ireland, Italy, the Netherlands, and Spain under a single, unified regulatory umbrella.
“Over the past few years, Coinbase has worked closely with regulators across Europe,” the exchange stated on Friday. “Now, with MiCA, we’re uniting these efforts under a single framework, enabling millions of Europeans to access regulated, trusted, and secure crypto services.”
The MiCA regulation aims to foster innovation while ensuring robust consumer protection and maintaining financial stability within the rapidly evolving crypto market. It mandates that crypto-asset service providers (CASPs) obtain licenses and adhere to stringent organizational, operational, and business conduct standards.
Coinbase is not alone in its pursuit of MiCA compliance. Rival exchange Gemini, owned by the Winklevoss twins, is reportedly in the final stages of obtaining its MiCA license in Malta, having applied for an operational license there in January. Similarly, OKX has also chosen Malta as its MiCA hub, with other major players like Crypto.com and Bybit having already secured their MiCA licenses.
