Coinbase Secures MiCA License, Expanding Crypto Services Across EU
Coinbase has received regulatory approval to operate across the European Union under the Markets in Crypto Assets (MiCA) framework, granted by Luxembourg's financial authorities. This license enables Coinbase to provide crypto services in all 27 EU member states. Luxembourg was selected for its supportive blockchain approach and recent blockchain legislation. Coinbase has previously secured licenses in several EU countries, including Germany, France, and Spain. MiCA, effective since June 2023, standardizes licensing for crypto asset service providers, allowing firms to operate across the EU with a single license. Critics argue this could incentivize firms to register in jurisdictions with weaker regulations, potentially undermining consumer protection and trust. The European Securities and Markets Authority is reviewing Malta’s licensing process amid concerns over regulatory standards.
