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Reported by CNBC, Coinbase has chosen Ireland as its main operational and regulatory hub in the European Union.
Coinbase submitted its application for a license under the EU’s new Markets in Crypto-Assets (MiCA) regulation, which is set to come into force by December 2024, with the Central Bank of Ireland. If and when it is approved, Coinbase will have a universal “MiCA license” in Ireland, which it can then use to “passport” its services into Germany, France, Italy, the Netherlands and other EU countries.
That makes it easier for Coinbase to launch new products in those markets without having to apply for individual licenses in each country. Coinbase says it’s confident it will be able to win this license.
Related: European Union's Crypto Asset Markets Law (MiCA) Officially Published
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