Coinbase Secures MiCA Approval for EU Expansion

Coinbase, the largest US-based cryptocurrency exchange, has achieved a significant milestone in its global expansion by securing approval under the European Union’s Markets in Crypto-Assets (MiCA) regulation. This approval was granted by Luxembourg’s financial watchdog, the Commission de Surveillance du Secteur Financier (CSSF), allowing Coinbase to legally offer crypto services across all 27 EU member states.

Coinbase’s chief policy officer, Faryar Shirzad, highlighted the importance of this regulatory green light, stating, “Coinbase is now licensed to operate across all 27 member states of the EU! The securing of our MiCA license is a massive step forward for our business in Europe.” This approval marks a turning point in Coinbase’s European strategy, prompting the firm to shift its regional headquarters from Ireland to Luxembourg.

MiCA was designed to establish a unified set of rules for digital assets across the European Union. The framework aims to protect consumers, ensure compliance, and reduce regional regulatory fragmentation. With the MiCA framework now in effect, Coinbase’s approval positions it as the first American crypto exchange to receive formal MiCA recognition, joining global competitors like OKX and Bybit who have already secured the licensing.

Coinbase’s decision to anchor its European presence in Luxembourg reflects the country’s forward-leaning stance on digital innovation. According to Coinbase, Luxembourg is a strategic jurisdiction that balances innovation with regulatory maturity. The exchange noted that the country has passed four blockchain-related laws in recent years and continues to lead digital finance policy efforts at the national level.

Coinbase CEO Brian Armstrong met with Luxembourg Prime Minister Luc Frieden and other government officials to mark the milestone. This move underscores Coinbase’s commitment to maintaining a competitive edge in the global crypto market. Coinbase emphasized the importance of continued policy initiatives to maintain Europe’s competitive edge on the global stage, stating, “MiCA lays the foundation for a thriving crypto ecosystem. It’s equally important that policymakers continue to drive swift and ambitious initiatives to maintain Europe’s competitive edge on the global stage. The CSSF has set a high standard, and we hope to see this spirit replicated across the region.”