An EU presence
Leading cryptocurrency exchange Coinbase has announced that it has selected Ireland as its main European hub. The move comes as the company looks to strengthen its presence in Europe and comply with the upcoming Markets in Crypto-Assets Regulation (MiCA), which is set to be enforced in late 2024.
One regulatory framework
By choosing Ireland as its EU entity location, Coinbase will be able to operate under one regulatory framework and with one national supervisor, allowing it to serve the 450 million people across 27 countries in Europe. This move positions Coinbase as a major player in the European crypto market.
Ireland's advantages
Coinbase cited Ireland's supportive political environment for FinTech companies and its globally respected regulator as reasons for selecting the country as its MiCA hub. The company also holds licenses and registrations in other member states across the EU, including Germany.
"We are delighted to select Ireland as our MiCA hub. Ireland is a leading jurisdiction in this space, and we look forward to working with regulators in Ireland, Germany and beyond, to bring this industry to its full potential with the advent of MiCA," said Coinbase EMEA vice president and regional managing director Daniel Seifert.
This is a developing story, and further information will be added as it becomes available.
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