Coinbase (COIN) Becomes First U.S. Crypto Exchange Licensed Under EU’s New MiCA Rules

Coinbase (COIN) has become the first U.S.-based crypto exchange to receive a Markets in Crypto Assets (MiCA) license under the European Union’s new crypto regulatory framework. The license was granted by Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), which will allow Coinbase to legally offer its full range of crypto products to all 27 EU member states. This is a major step forward for the company, as it now operates under a single, unified set of rules across one of the world’s largest economic regions, giving 450 million Europeans access to regulated digital asset services.

In announcing the news, Coinbase stated that it will make Luxembourg its new European crypto hub, moving its base from Ireland, which lacked specific crypto-focused legislation. Indeed, Luxembourg was chosen for its strong track record in financial innovation and its clear regulatory environment. The country has already passed four blockchain-related laws and takes a coordinated, government-wide approach to developing blockchain and distributed ledger technology.

It is worth noting that over the past few years, Coinbase has secured licenses in several other EU countries, including Germany, France, Ireland, Italy, the Netherlands, and Spain. Now, with the MiCA license in place, all of these efforts are being brought together under one framework. Coinbase also encouraged other European regulators to follow Luxembourg’s lead and keep pushing forward with crypto-friendly policies. The company says it’s excited to keep growing in Europe and help support the region’s economy.

Is COIN Stock a Good Buy?

Turning to Wall Street, analysts have a Moderate Buy consensus rating on COIN stock based on 13 Buys, 11 Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average COIN price target of $268.70 per share implies 11.3% downside risk.

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