Coinbase Shifts EU Operations to Luxembourg Following MiCA License Approval
Published Fri, Jun 20, 2025 – Updated Fri, Jun 20, 2025
By Ryan Browne
In a significant regulatory advancement, Coinbase has secured a Markets in Crypto Assets (MiCA) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), marking a major step for the U.S.-based cryptocurrency exchange. This license enables Coinbase to offer its crypto services throughout the European Union (EU), and furthermore, the company has selected Luxembourg as its primary hub in the region, a strategic move away from its previous base in Ireland.
MiCA Regulation in Europe
The MiCA regulation is a comprehensive framework aimed at harmonizing the legal landscape for cryptocurrencies across all 27 EU member states. Implemented fully in late 2024, it seeks to enhance consumer protection and mitigate risks associated with crypto investments, especially in light of recent high-profile scandals that have impacted the sector. With this license, Coinbase becomes the first U.S. cryptocurrency exchange to comply with MiCA, positioning itself favorably within the European market.
Coinbase’s CEO, Brian Armstrong, expressed the company’s commitment to the European market, stating, "Coinbase is all in on Europe, and we’re advocating for crypto’s future across the continent. MiCA has set the standard, and Luxembourg is leading the way with its pro-business climate and thoughtful approach to regulation."
The Decision to Relocate from Ireland to Luxembourg
Initially, in 2023, Coinbase had announced Ireland as its central EU base, accompanying the move with a significant public relations campaign. However, the company has since revised this choice, opting for Luxembourg due to its reputation as a "forward-thinking financial hub."
Daniel Seifert, Coinbase’s vice president and regional managing director of EMEA, noted the company’s reevaluation of its strategy, stating that the choice to move was driven less by any deficiencies in Ireland and more by the advantages that Luxembourg offered, including established blockchain-related legal frameworks. "Luxembourg has four blockchain-related policies that have been signed into law, whereas Ireland currently lacks any crypto-specific laws," he explained.
Despite the relocation, Seifert confirmed that Coinbase continues to invest in its Irish operations, with plans to create approximately 50 new jobs in its Dublin office. Moreover, he has personally moved to Ireland from the UK to lead Coinbase’s Irish entity.
An Expanding Competitive Landscape
While Coinbase is a prominent player in the EU crypto landscape, it is not alone in its quest for regulatory approval. Other exchanges, including Bybit, OKX, and BitGo, have also obtained their MiCA licenses. Additionally, rival firm Gemini is anticipated to receive its own EU license from Malta shortly, reinforcing the competitive atmosphere among cryptocurrency exchanges operating within Europe.
With its recent developments, Coinbase’s strategic pivot underscores its intention to be a leader in the evolving regulatory environment of cryptocurrencies in Europe, as well as its commitment to fostering a sustainable and compliant crypto marketplace.