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- Coinbase obtained a Mica license from Luxembourg, allowing cryptography services in all EU member states.
- The license consolidates previous European operations as part of the same regulatory framework.
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Coinbase announced Friday that it had obtained a market license in Crypto-Asets (MICA) of the Surveillance Commission for the Luxembourg Commission (CSSF), the main financial regulator of the country responsible for supervising and regulating the financial sector.
With this license, the main American exchange can now deploy its full portfolio of cryptographic products and services in the 27 EU countries, unlocking access to a potential market of 450 million people, the company said.
Coinbase also anchors its European center in Luxembourg as part of its growth plan in accordance with mica in the EU. This decision is strengthening the position of the region as a global maturity cryptography market with increasing institutional credibility.
Luxembourg has become a strategic choice for European Coinbase operations, after having adopted four policies related to blockchain through its national legislature. The country has adopted an “entirely governmental approach” of blockchain and the technology of the great distributed book, according to Coinbase.
“This new hub represents a historic step for Coinbase in Europe and strengthens the broader ecosystem of innovation,” said Coinbase in the announcement.
The company had previously obtained licenses in several European countries, including Germany, France, Ireland, Italy, the Netherlands and Spain.
A number of other major crypto exchanges also work in accordance with Mica, including Bybit, OKX, Crypto.com and Bitstamp. OKX and Crypto.com have selected Malta as a European basis for Mica licenses, while Bybit chose Austria.
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