Coinbase Embraces Ireland as Its Gateway to EU Crypto Markets
U.S. cryptocurrency exchange Coinbase has chosen Ireland as its primary regulatory hub in the European Union, aiming to secure a license under the pan-European Markets in Crypto Assets (MiCA) law.
Coinbase, a prominent American crypto exchange, has opted for Ireland as its “MiCA hub” for EU operations as part of its international expansion strategy. The company currently holds e-money institution and virtual asset service provider licenses in Ireland, along with licenses in other EU nations. It has also applied for a MiCA license from the Central Bank of Ireland, allowing it to offer services across the EU under a single license and regulator.
Coinbase views MiCA as a positive development, offering clarity for the industry and recognizing the potential of emerging technology in the EU. With 11% of Irish adults invested in digital assets and the EU’s vast population, Coinbase expects cryptocurrency adoption to grow in the region. Nana Murugesan, Coinbase’s Vice President for International and Business Development, expressed their satisfaction with Ireland’s engagement in the decision-making process.
Clever Robot News Desk 24th October 2023
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