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Coinbase Announces EU MiCA License From Luxembourg Regulator
- Coinbase has obtained a Markets in Crypto Assets (MiCA) license from Luxembourg's financial regulator, allowing the exchange to provide crypto services across all 27 European Union member states.
- The license was granted by the Commission de Surveillance du Secteur Financier (CSSF), establishing Luxembourg as Coinbase's official crypto hub in the region.
- This move enables Coinbase to streamline its European operations under a unified regulatory framework.
- The MiCA license permits Coinbase to offer its full range of crypto products and services throughout the EU's single market, reaching over 450 million people.
- Luxembourg was chosen by Coinbase for its clear regulatory environment and history of financial innovation.
- Before the MiCA license, Coinbase operated through individual national authorizations in various EU countries.
- The MiCA framework aims to enhance consumer protections and bring consistency to the previously fragmented regulation of crypto assets across the EU.
- Coinbase's acquisition of the license signifies progress towards increased compliance in Europe.
- Other major exchanges like OKX, Crypto.com, and Bybit have also secured MiCA licenses.
- Coinbase stressed the importance of policymakers aligning with global developments as the MiCA regime is set to start implementation from mid-2025.
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