Cryptocurrency Information Bureau News: Coinbase acquires MiCA license! Entering the European market of 4.5 million people! Keep an eye on future developments! #Coinbase #MiCA #Cryptocurrency
Video explanation
Will cryptocurrencies become more accessible in Europe? Major company Coinbase gets new permission!
Hello everyone! It's your John.
You may have been hearing the words "cryptocurrency" and "blockchain" more and more recently in the news. However, many of you may be thinking, "It seems kind of difficult..." Don't worry! In this blog, we will be sharing the latest technology news in an easy-to-understand way for everyone.
Well, today we have some very big news for the European cryptocurrency industry!CoinbaseBut we have a new "license" to operate in Europe. What does this mean for us? Let's find out!
Coinbase is now allowed to operate across Europe under the "MiCA License"
This time, Coinbase acquired:"MiCA License"It's called the EU Certification Exemption, and it's the first unified license for providing cryptocurrency services across the European Union (EU).
You may be wondering, "What is a license?" Simply put, it is an official recognition from a national or local government agency that "Okay, your service complies with the proper rules, so you can do business here!" It may be easier to understand if you think of it as something like a school permit or a driver's license.
Coinbase holds the MiCA license in Luxembourg.Financial Supervisory Board (CSSF)(An organization that checks the flow of money and financial institutions in a country, so to speak, like a "financial police"). This means that Coinbase can now proudly provide services to about 27 million people in 4 EU member countries! That's amazing!
By the way, what does "MiCA" mean?
The key to this news is the "MiCA" mentioned earlier. This is an acronym for "Markets in Crypto Assets", which in Japanese would be something like "Crypto Asset Market Regulation". To put it more simply,"One new law for cryptocurrencies for all of Europe"It's like
Until now, rules regarding virtual currencies have varied from country to country in Europe. What was OK in country A was sometimes not OK in country B. This made it difficult for companies to provide services with confidence, and it was also difficult for users to know which services were safe.
So the EU decided to create common rules across Europe so that everyone can use virtual currencies with peace of mind. That's what MiCA is.
- Customer protection is enhanced:For example, it sets rules on how a company should manage its customers' assets.
- Increased market transparency:The rules of the trade are clear.
- Easier for businesses to operate:You will be able to operate across the EU with one license.
Many benefits are expected, such as: In other words, MiCA is an important step towards making the world of virtual currencies safer and easier to use.
What does this news have to do with us?
You may be thinking, "Even if Coinbase gets a license in Europe, it doesn't really matter to us in Japan, does it?" But actually, that's not necessarily the case!
First,Increased credibility in the entire cryptocurrency industryThis is a major point. Some people may have had a somewhat suspicious image of virtual currency up until now. However, the fact that a large economic zone like the EU has created unified rules and that major companies like Coinbase have obtained licenses in accordance with those rules is proof that "virtual currency is becoming properly accepted in society."
Specifically, the positive effects include:
- Crypto becomes safer in Europe:Since the service will be provided under the strict rules of MiCA, European users will be able to interact with virtual currencies with greater peace of mind than before.
- Promoting corporate competition and innovation:Clearer rules may make it easier for other companies to enter the European market. Competition between companies may lead to better services and new technologies, which may ultimately benefit users around the world.
- Could this be a model for global rule-making?The EU's MiCA is attracting attention as the world's first comprehensive framework for virtual currency regulation. It is quite possible that other countries and regions will use MiCA as a reference when creating rules for virtual currencies in the future. Japan may be no exception.
In other words, this news is an important event that will help the virtual currency market not only in Europe but also around the world to develop more healthily. In particular, for beginners who are thinking about getting into virtual currency, this move to improve regulations will be a source of reassurance.
John's words
Wow, this news is really exciting! I think that Coinbase's acquisition of the MiCA license is a big step in the evolution of virtual currency from "something for a few tech enthusiasts" to "one of the financial services that more people can use with confidence." It's great that new technologies can grow more safely and healthily as rules are established. I can't wait to see how the world of virtual currency will change from now on!
This article is based on the following original articles and is summarized from the author's perspective:
Coinbase Secures MiCA License to Serve 450 Million
Europeans