In addition, Coinbase has chosen Ireland as its primary global regulatory hub amid tightening US regulations. The company aims to leverage the forthcoming European Union's Markets in Crypto-Assets (MiCA) regulations by securing a license from the Central Bank of Ireland, thereby gaining access to all EU customers under "passporting" rights. This move is part of Coinbase's strategy to ensure its continued global presence and compliance with evolving international regulations.
Key takeaways:
- Coinbase has added four national security experts to its global advisory council to help navigate regulatory challenges in the cryptocurrency industry.
- The new council members are Mark Esper, Stephanie Murphy, Frances Townsend, and David Urban, all of whom have extensive experience in security, government operations, and corporate affairs.
- Coinbase has chosen Ireland as its primary global regulatory hub due to increasing regulatory measures in the United States and the forthcoming implementation of the European Union's Markets in Crypto-Assets (MiCA) regulations.
- The Securities and Exchange Commission (SEC) has accused Coinbase of operating an unauthorized trading platform and conducting a staking-as-a-service program without proper authorization.