Coinbase gets Mica license, challenges Bitpanda and Co in Europe

The US cryptocurrency exchange Coinbase has received an important regulatory approval in Europe. The company was equipped by the Luxembourg Financial Supervisory Authority CSSF (Commission de Surveillance du Secteur Financier) with a license according to the markets in Crypto Assets (Mica) Ordinance.

The Mica license enables Coinbase to offer its complete range of cryptocurrency services in all 27 EU member states. This gives the company access to a market of around 450 million people under a uniform regulatory framework.

The competition for European customers becomes more intensive. Okx, Crypto.com, BYBIT, Bitpanda, Boerse Stuttgart Digital Custody, Coinbase or Trade Republic have already got the Micar license. Other big names such as Kraken, Binance and Gemini are on the way to licensing. Coinbase, as a US market leader, could become an important advisor, especially for Bitpanda, which sees itself as a European market leader.

Luxembourg Asking as a Member of the Center

Coinbase has announced that it would establish its European crypto center in Luxembourg. The Grand Duchy is recognized as a future -oriented financial center with clear regulatory framework. Luxembourg has already adopted four blockchain-related laws and is pursuing a holistic government strategy for blockchain and distributed Ledger technologies.

In recent years, Coinbase had already acquired individual licenses in various European countries, including Germany, France, Ireland, Italy, the Netherlands and Spain. The mica license now enables the standardization of these activities under a common regulatory roof.

Meaning for the European crypto market

The MICA regulation is an important milestone for regulating cryptocurrencies in Europe. For the first time, it creates a uniform legal framework for crypto assets in the European Union and is intended to guarantee both consumer protection and legal certainty for companies.

The company emphasizes that licensing is a significant step for the further development of the European crypto ecosystem. Coinbase is one of the first major international crypto bonds that have received a complete mica license.