Coinbase Picks Ireland for MiCA Compliance

Coinbase, world significant cryptocurrency exchange is expanding its services around the globe. Recently, news broke out in the market that Coinbase has declared Ireland as its business hub for the European Union. Coinbase is going to apply for the MiCA (Markets in Crypto Assets) license to operate in the European Union and announced to make Ireland its business hub.

Coinbase’s Sustainable Future Plans

Exchange claims that selecting Ireland as its business hub is part of exponential growth. By this compliance with MiCa, 27 European member countries would assist in scaling growth.

Jennifer Carrol MacNeill, the minister of Ireland’s Department of Finance shared his views in this regard. He said that the companies expanding in Ireland will contribute to the thriving financial industry that took 30 years to develop. He predicted the sustainable future of the exchange and financial industry.

Also Read: Coinbase Gets AML License from Spanish Central Bank

 This new compliance is a practical initiative of its agenda “Go Broad, Go Deep”. Coinbase is exponentially expanding its services across the globe and tackling the uncertainties in the United States. The core reason for selecting Ireland is the low taxes and the English language for which they considered London before Brexit but chose Ireland at the end.

Coinbase’s Compliance with MiCA

Coinbase expects a fruitful collaboration with MiCA to work with the regulators of Germany, Ireland and European Union member states. With MiCA’s license to work in the EU, Coinbase will grow exponentially and offer ultimate services in the EU.

MiCA is a new and refined framework of crypto regulations which has been widely accepted and appreciated by the crypto community.  Along with balancing the financial markets, MiCA also boosts innovation by keeping investors on the safe side. Coinbase can reach out to more than 440 million customers with a GDP of $16.6 trillion because it operates within a continental framework through Ireland.