Coinbase Sets Ireland As A Regulatory Center In The European Union

Coinbase crypto exchange. (Photo; Doc. Cryptonewsz)

JAKARTA - Coinbase, a leading crypto exchange, has designated Ireland as their regulatory center in the European Union. This decision was taken in the context of expansion in Europe, especially ahead of the implementation of a more crypto-friendly European Union Crypto Asset Market Law (MiCA).

Since 2018, Coinbase has made Ireland their operational base and currently has nearly 100 employees in the country. Coinbase has applied for a MiCA license to the Central Bank of Ireland. If approved, this license will allow Coinbase to offer their services across 27 EU member countries, including Germany, France, Italy, the Netherlands, and others.

With a MiCA license, Coinbase can expand their services without the need to obtain separate licenses in each country. This is an efficient step that takes advantage of the MiCA licensing process. MiCA is an EU effort to provide a comprehensive regulatory framework for crypto companies, focusing on the protection of individuals involved in crypto asset trading such as Bitcoin and Ethereum.

Coinbase has obtained permission from electronic money agencies and registration of virtual asset service providers in Ireland. They also have a cryptocurrency license in Germany and national registration in various other EU member countries.

Coinbase Seeing Opportunities For Growth In The European Union

Coinbase has ambitions to develop its presence in the European Union and other international markets, especially given the regulatory challenges in the United States. They are optimistic that they will get better regulatory clarification with the adoption of the MiCA law in the European Union.

Meanwhile, digital asset adoption in Europe continues to grow, making the region one of the largest crypto economies in the world. Coinbase sees the huge growth potential here and plans to test new products before launching them into the United States. Their main focus is on the daily practical use of cryptocurrencies, such as payment solutions and transactions, not just trading.

The move reflects the company's passion to continue to grow and adapt to global regulatory changes in the crypto space.