Coinbase just planted its European flag in Luxembourg, picking up a Markets in Crypto-Assets (MiCA) license from the country’s financial watchdog, the Commission de Surveillance du Secteur Financier (CSSF). The license, granted on June 20, 2025, makes Coinbase the first US company to secure MiCA authorization from Luxembourg.
Here’s the thing: this isn’t just a piece of paper. The license lets Coinbase “passport” its crypto services across all 27 EU member states, opening the door to roughly 450 million people in the European Economic Area.
Why Luxembourg, and why now
Coinbase originally picked Ireland as its European MiCA hub back in 2023. That relationship apparently didn’t last. The exchange has now shifted its continental base to Luxembourg, citing the country’s regulatory clarity and pro-innovation stance.
The new entity, Coinbase Luxembourg S.A., will operate as a licensed crypto-asset service provider. The authorization number, N00000004, suggests Coinbase was among the very first applicants through the CSSF’s door.
