Coinbase has secured a license from Luxembourg to offer cryptocurrency services across the European Union, designating the country as its central hub in the region.
This move expands upon its existing European operations, which have been based in Ireland since 2023, according to CNBC.
Coinbase announced Friday it has secured a Markets in Crypto-Assets license from Luxembourg’s Commission de Surveillance du Secteur Financier.
The MiCA framework, which fully took effect in late 2024, establishes a unified legal standard for crypto services across all 27 EU member states.
It aims to boost consumer protection and restore trust in the sector after a string of high-profile scandals.
“Coinbase is all in on Europe, and we’re advocating for crypto’s future across the continent,” Coinbase CEO Brian Armstrong stated. “MiCA has set the standard, and Luxembourg is leading the way with its pro-business climate and thoughtful approach to regulation.”
Coinbase initially selected Ireland as its central European hub in 2023, launching a high-profile PR campaign around the move.
However, the company has since reversed course, choosing Luxembourg instead due to its reputation as a “forward-thinking financial hub” better aligned with Coinbase’s long-term strategy in the region.
“The decision was made less-so due to Ireland, but rather for the reasons that Luxembourg presented a highly compelling option,” Daniel Seifert, vice president and regional managing director of EMEA at Coinbase, noted.