Coinbase picks Ireland for EU crypto hub

Coinbase, the crypto exchange, has chosen Ireland as its primary European crypto hub.

This decision will enable the company to comply with the “Markets in Crypto-Assets Regulation” (MiCA) and serve an economy spanning 27 EU countries with a population of 450 million, utilizing a unified regulatory framework and national oversight.

Dmytro Nykytenko, a lawyer at SBSB Fintech Lawyers, provides the following comment:
“Coinbase has successfully attained VASP status in Ireland for their 2 companies. The MiCA regulation will soon take effect, granting crypto firms in the EU a chance for passporting. Many are preparing by registering VASP in Ireland or other EU nations to utilize the MiCA transition period. Although there aren’t many direct advantages, Ireland offers the favorable corporate income tax regime, a loyal, fast and open for discussion regulator for EMI and VASP and developed infrastructure for fintech projects.

For crypto businesses aiming for the combination of EMI and VASP license, Ireland is a strong alternative of Lithuania with an attractive location bridging fintech and blockchain. Startups seeking only a single VASP license should consider Eastern Europe, such as Poland or Czechia.”

You can learn more about the news by following the link: https://cointelegraph.com/news/coinbase-ireland-europe-mica