Coinbase Secures MiCA License, to Make Luxembourg EU HQ
Coinbase has obtained a Markets in Crypto-Assets (MiCA) license from the Luxembourg Commission de Surveillance du Secteur Financier, allowing it to offer crypto products across the European Union. This development highlights increasing competition in the European crypto market, with other exchanges like OKX, Crypto.com, and Bybit also securing MiCA licenses. Luxembourg has been chosen as Coinbase's new European headquarters due to its progressive stance on financial regulations. The country has implemented four blockchain-related policies since 2019. Following the announcement, Coinbase shares rose by 4.95%. The MiCA framework aims to standardize crypto regulations in the EU, protect investors, and enhance financial stability, with full enforcement set for December 2024. Crypto investment in Europe is growing, with 10%-20% of investors engaged in the sector, and utility is becoming a significant factor in adoption, particularly in retail and decentralized finance applications.
