Coinbase Eyes European Dominance; Seeks MiFID License
Coinbase, a leading cryptocurrency exchange, has acquired a Cyprus-based entity under the EU’s Markets in Financial Instruments Directive (MiFID), aiming to expand its presence in the European market.
The acquisition is part of Coinbase’s strategy to strengthen its presence in the EU’s regulatory framework, which governs investment services and activities across member states. The acquisition will allow Coinbase to access a larger segment of the global crypto market, particularly in derivatives.
Coinbase’s expansion strategy emphasizes compliance with regulatory standards, implementing a five-point Global Compliance Standard, that includes team vetting, Anti-Money Laundering protocols, global sanctions enforcement, governance practices, and ongoing monitoring and reporting.
(With inputs from Shikha Singh)
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