• P Xenos and M Bacina

Coinbase Receives E-Money License From the Central Bank of Ireland


Coinbase has been granted an e-money license by the Central Bank of Ireland.


This is the second European regulatory approval the company has secured, in March 2018, Coinbase received an e-money license from the U.K.’s Financial Conduct Authority.


Coinbase can now serve clients across Europe from their Ireland presence, which provides certainty for them if a no-deal Brexit interferes with e-money licensing recognition.


UK CEO of Coinbase, Zeeshan Feroz, stated:

The approval from the Central Bank of Ireland will now enable us to expand our Irish operation and deliver a better product to customers across some of our fastest-growing markets. It will also allow us to secure passporting for our customers across the EU and EEA.

And:

We are committed to ensuring that our customers have the same safeguarding and security as any regulated financial institution, and the approval of a second European regulatory authority demonstrates our position as the world’s most trusted cryptocurrency platform.”

The approval by the Irish central bank is a clear indication that Ireland is open to becoming a spring board for the European market for the growing digital assets industry.


Coinbase has also been active in leading the formation of the Crypto Rating Council, established to create a framework to rate the likelihood of certain cryptocurrencies being considered securities under US law.



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