Coinbase Establishes EU Hub in Ireland
Top cryptocurrency exchange Coinbase has selected Ireland as its European operational and regulatory center in response to the new Markets in Crypto-Assets (MiCA) regulation.
Established in Dublin since 2018, Coinbase is actively pursuing a “MiCA license” from the Central Bank of Ireland to expand its services across the entire European Union.
As reported by CNBC on October 19, Coinbase, a prominent cryptocurrency exchange, has chosen Ireland as its primary operational and regulatory hub in the European Union. With nearly 100 employees in Dublin, Coinbase’s quest for the MiCA license will enable it to offer services seamlessly across all 27 EU member states without individual country licenses.
Nana Murugesan, Coinbase’s Vice President of International, emphasized the company’s readiness to commence operations as soon as it secures the MiCA license. He praised Ireland’s support throughout the decision-making process, underscoring the meticulous approach taken in evaluating various member states.
Coinbase recently revealed Germany as a critical talent hub in its international market strategy, “Go Broad, Go Deep.” The exchange is eyeing further expansion into regions like Benelux, the Nordics, Spain, and Italy.
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Coinbase’s decision to focus on the EU is influenced by regulatory challenges in the United States, including a lawsuit by the SEC. The exchange’s request for dismissal of the lawsuit reflects its concerns about the absence of comprehensive regulatory frameworks for the cryptocurrency industry in the United States, a viewpoint at odds with SEC Chair Gary Gensler’s stance.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
