Coinbase Taps Ireland as European Hub
In order to comply with the EU’s Markets in Crypto Assets (MiCA) regulatory framework, which is expected to go into effect in December 2024, Coinbase chose Ireland as its base location within the union.
According to Coinbase, this will enable it to provide services to one of the biggest economies in the world under a single set of rules. There are 450 million people living in the EU, spread over 27 nations.
According to the MiCA, stablecoin issuers must maintain adequate reserves while crypto companies and exchanges must obtain licenses in order to operate throughout the bloc.
Coinbase, a cryptocurrency exchange, plans to expand its presence in Europe by establishing a regional talent hub in Germany. The exchange currently holds licenses in Ireland, Germany, Italy, Spain, and the Netherlands.
(With inputs from Shikha Singh)
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