On June 24, cryptocurrency exchange Coinbase opened a new office in Luxembourg. The company officially announced the creation of a European hub designed to ensure full compliance with the latest MiCA regulations.
The move highlights Coinbase’s strategic approach to regulation in the region. At the same time, its main competitor, Binance, is still fighting to secure a license.
These developments show how important transparency and regulatory experience have become for crypto companies operating in Europe. After July 1, when the MiCA framework fully applies, only firms that meet the new requirements will be able to legally serve clients across the European Union.
Companies that complete the compliance process ahead of competitors will gain access to all 27 EU member states. Others risk losing ground in one of the world’s most important crypto markets.
Coinbase Gains A Foothold In Luxembourg
Coinbase received its MiCA license from Luxembourg’s financial regulator in June 2025, more than a year before the new rules fully came into force. The company already held national licenses in six EU countries, including Germany and France.
Coinbase has also been listed on Nasdaq since 2021, giving regulators access to several years of audited financial statements.
A single MiCA license allows a company to serve more than 450 million people across the European Union. Coinbase Luxembourg SA has already been added to the ESMA register, joining the list of companies authorized to operate in the EU under MiCA.
The opening ceremony for the new office was attended by Coinbase Chief Policy Officer Faryar Shirzad. Luxembourg Finance Minister Gilles Roth was also present.
Binance Remains Under Pressure
Binance has taken a different path. This week, the exchange confirmed that it had failed to obtain a license in Greece and was no longer registered with ESMA.
Regulators have been closely watching Binance for years. In 2023, the company pleaded guilty in the United States to money laundering and sanctions violations. Binance agreed to pay more than $4.3 billion in penalties, one of the largest corporate fines in U.S. history. Founder Changpeng Zhao also pleaded guilty and stepped down as CEO.
Binance is now planning to seek approval in another EU country. The company says it is ready to comply with MiCA and has around 1,500 employees working in compliance roles.
EU Crypto Market Splits As MiCA Deadline Nears
The final deadline for meeting the regulator’s requirements is now only days away. More than 230 crypto companies have already successfully completed the authorization process and will retain the legal right to serve European users.
For Coinbase, the Luxembourg office is a sign of readiness. For Binance, the coming days may determine whether it can maintain a strong position in the EU market under the new MiCA regime.
