Coinbase has become the first American crypto exchange to receive the EU’s Markets in Crypto Assets (MiCA) license from Luxembourg’s top financial regulator. This major approval allows Coinbase to offer crypto services across all 27 EU countries under a single framework. The company is now shifting its main European hub from Ireland to Luxembourg which it sees as a more progressive financial center.

The MiCA license is part of a new EU-wide regulation that aims to protect crypto users and bring legal clarity to the market. Coinbase praised Luxembourg for its pro-business environment and commitment to innovation in crypto. The exchange said the move supports its mission to push crypto adoption across Europe.

Despite relocating its hub Coinbase continues to invest in Ireland with plans to add 50 new jobs in Dublin. The company joins global rivals like Bybit and OKX who have also received MiCA approval. Coinbase leadership says this is a big step forward for the future of crypto in Europe.