US-based cryptocurrency exchange Coinbase is strengthening its presence in Europe and has officially announced Ireland as its chosen European crypto hub.
Coinbase chose Ireland as the location for its EU entity to comply with Europe’s main cryptocurrency regulatory framework, known as The company announced the Market Regulation in Crypto-Assets (MiCA) to Cointelegraph on October 19.
The company said in the announcement that MiCA is expected to be implemented by the end of 2024, allowing Coinbase to serve one of the world’s largest economies (with a population of 450 million across 27 countries) under one regulatory framework and one national regulator. Provide services.
Coinbase currently holds an electronic money institution license and virtual asset service provider (VASP) registration in Ireland, a cryptocurrency license in Germany, and multiple national registrations in other EU member states.
“We are delighted to have chosen Ireland as our MiCA hub. Ireland has a favorable political environment for fintech companies, as well as regulatory agencies that are globally respected.” said Daniel Seifert, Vice President and Regional Managing Director of Coinbase Europe, Middle East and Africa. He added:
“Ireland is a leading jurisdiction in this area and we look forward to working with regulators in Ireland, Germany and beyond to realize the full potential of the industry as MiCA emerges.”
This is a developing story and more information will be added as it becomes available.
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