According to the business, Coinbase has chosen Ireland as its EU regulatory hub. Markets in Crypto Assets Regulation (MiCA), a new set of EU regulations, will permit cryptocurrency service providers to operate throughout the EU with a licence from any one of its 27 national regulators.
Coinbase’s Vice President and Regional Managing Director for Europe, the Middle East, and Africa made a statement about the EU nation that is already home to tech giants like Apple and Google, saying that “Ireland has a supportive political environment for FinTech companies, as well as a globally respected regulator”.
“With the introduction of MiCA, we look forward to collaborating with regulators in Ireland, Germany, and other countries to realise the full potential of this industry.”
The cryptocurrency exchange is presently defending itself against accusations from federal and state regulators in the United States that it ought to have registered as a securities exchange. It has already registered in Italy, the Netherlands, and Spain. The company stated in a blog post from September that one of its goals for foreign expansion was to achieve regulatory certainty.