Coinbase Picks Ireland as EU Hub

Coinbase has picked Ireland to be its regulatory hub within the European Union (EU), the company said.

New EU laws known as the Markets in Crypto Assets regulation (MiCA) will allow crypto service providers to operate across the bloc based on a license from one of its 27 national regulators.

“Ireland has a supportive political environment for FinTech companies, as well as a globally respected regulator,” said a statement by Coinbase’s Vice President and Regional Managing Director for Europe, the Middle East and Africa, of the EU country that already plays host to tech giants like Apple and Google. “We look forward to working with regulators in Ireland, Germany and beyond, to bring this industry to its full potential with the advent of MiCA.”

The crypto exchange has already registered in Italy, the Netherlands and Spain, and is currently fighting charges from U.S. federal and state regulators that it should have registered as a securities exchange. In a September blog, the company said it was targeting regulatory clarity as part of international expansion plans.