Coinbase joins other exchanges such as OKX and Bybit that have secured MiCA licenses in a bid to take advantage of regulatory clarity in Europe.
Coinbase has secured a Markets in Crypto-Assets (MiCA) license from the Luxembourg Commission de Surveillance du Secteur Financier, which enables the exchange to offer crypto products across European Union countries.
The move signals mounting competition in the European crypto market, where other exchanges have also been pursuing registrations. OKX and Crypto.com secured MiCA licenses in January, followed by Bybit in May. Gemini is also on track to obtain a license in the region, according to a Reuters report.
Coinbase has named Luxembourg as its new European headquarters, citing the country’s reputation as a progressive financial center in Western Europe. Bordered by Belgium, France and Germany, the country has been gradually advancing crypto regulations since 2019.
