Coinbase picks Luxembourg as MiCA home for EU crypto push

Coinbase confirmed Luxembourg as its regulatory home for the European Union under the Markets in Crypto-Assets (MiCA) framework, one year after securing a license from the Commission de Surveillance du Secteur Financier (CSSF).

The company said the Luxembourg entity, Coinbase Luxembourg S.A., can now offer crypto-asset services across the European Economic Area through passporting. The setup lets it serve all 27 EU member states from a single authorization base.

"Luxembourg is officially our MiCA home," Coinbase said on X.

The move follows a broader trend of major crypto firms choosing Luxembourg as a licensing hub under MiCA. Ripple received preliminary CASP approval from the CSSF earlier, though it remains subject to final conditions. Ripple's plan ties the license to its regulated stablecoin and payment services for banks and fintechs across the EEA.

OpenPayd secured MiCA authorization days before the July 1 transition deadline, covering stablecoin conversions, custody, wallet infrastructure, and transfers. France has warned unlicensed crypto firms to secure approval by the deadline or wind down.

Binance faces more uncertainty. Reuters reported that Binance's Greek MiCA application was expected to be rejected, putting its EU access at risk. Binance said it had no formal indication of a denial.

Coinbase's position is clearer because its Luxembourg entity already holds authorization. Coinbase chief policy officer Faryar Shirzad said Luxembourg has established itself as the EU's leading hub for institutional crypto and tokenization, and that the country took a thoughtful, innovation-oriented approach to blockchain and digital assets.

Before the Luxembourg license, Coinbase built local license coverage in Germany, France, Ireland, Italy, the Netherlands, and Spain. The MiCA passporting tool replaces the need for separate approvals in each country, allowing the firm to concentrate compliance resources on one regulator.

"Luxembourg has established itself as the EU's leading hub for institutional crypto and tokenization," Shirzad said.

The next phase will test how licensed firms use MiCA in practice. Coinbase can compete for EU users through one regulatory base. Ripple awaits final conditions. Other firms race to complete approvals before the transition period ends.