Coinbase MiCA License Helps Enter Europe As US Regulatory Battles Escalate: Report

Coinbase, a prominent cryptocurrency exchange, is considering expansion into the European market. Vice President of International Policy, Tom Duff Gordon, revealed that the company is exploring options for obtaining the EU Crypto Asset Market Regulation (MiCA) license.

Coinbase’s Decision-Making Process

Coinbase MiCA License allows crypto firms to operate across Europe after obtaining a license from a specific member state. Gordon emphasized the importance of selecting a trustworthy regulator and access to talent. Coinbase hopes to find a hub that aligns with their vision for the crypto space. This decision is significant as Coinbase is facing regulatory challenges in the US.

CEO Brian Armstrong has criticized US regulators for unfair regulations. The MiCA license offers an opportunity for crypto companies to expand their reach in Europe. However, before gaining access to the entire market, they must choose a member state for licensing.

Coinbase is actively pursuing individual registrations from various EU member states and recently secured registration with the Spanish central bank. Additionally, Italy, Ireland, and the Netherlands have been added to Coinbase’s list of European locations in the past year.

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