365int
Coinbase just scored big in Europe. The U.S.-based crypto giant got a MiCA license through Luxembourg. That means they can now offer crypto services in all 27 EU countries.
MiCA (Markets in Crypto Assets)* is a new EU rulebook for crypto firms. If one country says yes, the rest have to follow. It’s called passporting.
Luxembourg gave the green light because it’s been pro-blockchain for years. They’ve already passed four crypto laws. Coinbase liked that vibe.
The company has also worked with other European regulators before. They’ve got licenses in France, Italy, Ireland, Germany, Spain, and the Netherlands. Now MiCA ties it all together under one EU-wide approval.
But not everyone’s throwing confetti. Some worry this system could lead to “regulation shopping.” That’s when companies pick the country with the easiest rules just to get access everywhere.
Critics say this might lower consumer protection. Imagine opening the door with a fake key—except it’s legal.
Even Malta, known for being crypto-friendly, fined OKX $1.2 million for not following anti-money laundering rules in the past.
Peter Curk from ICONOMI thinks this could damage the EU’s digital finance reputation. The European Securities and Markets Authority is now reviewing Malta’s process.
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*Footnote: MiCA = Markets in Crypto Assets regulation, EU’s new framework for crypto licensing.
*Passporting = When a license from one EU country allows a company to operate across the entire EU.
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