Coinbase provides the European Union encryption license

Coinbase It has obtained a license from Luxembourg to provide encryption services throughout the European Union and will make the country its central center in the region.

The main European base for American encryption has been in Ireland since 2023.

Coinbase Sourtay Frietay you get at Crypto Setse: Limtic Rights (CSSF).

MICA is a comprehensive list that aims to create a legal framework for encoding in all 27 member states of the European Union. The rules, which entered into force in full late last year, aim to reduce the risks to consumers who buy encryption assets after a series of scandals in the sector.

Coinbase makes the first American encryption exchange for a MICA license. The competing company GEINI, owned by Twinkvoss Twins, is expected to receive its European Union’s license from Malta soon. Gemini Malta chose the Mika Center in January.

“Coinbase is in Europe, and we call for the future of Crypto throughout the continent,” Brian Armstrong, CEO of Coinbase told CNBC. “Mika has placed the standard, and Luxembourg is driving the road with its pro -business climate and its studied organization.”

Previously, Coinbase In Ireland decided its central center for the European Union In 2023 and fired a Blitz is large public relations About this step at that time. However, the company eventually retracted this decision, as Luxembourg concluded it would be more logical to put it as a “financial center to think forward”.

“The decision has been made less because of Ireland, but for the reasons that Luxembourg made a very convincing option,” said Daniel Severt, Vice President and Administrative Director of Regional in Europe, the Middle East and Africa in CNBC.

Luxembourg has four Blockchain policies signed in the law, while Ireland currently lacks any encryption laws.

He added that Coinbase is still investing in Ireland with “imminent” plans to add about 50 jobs to its local office in Dublin. SEIFERT also moved to the country from Germany as the Coinbase CEO.

Globally, Coinbase is not the first to obtain the encryption authorization across the European Union – but it is one of the largest. All competing exchanges byBit, OKX and Bitgo secured the MICA licenses for each of them.