Coinbase Secures MiCA License in Luxembourg, Paving Way for EU Expansion
Coinbase has achieved a significant regulatory milestone by securing approval from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF). This approval registers Coinbase as a crypto asset service provider under the Markets in Crypto-Assets (MiCA) framework, a pivotal development for the exchange's European operations. The MiCA license effectively serves as a 'passport' allowing Coinbase to operate seamlessly across all 27 EU member states without the need for additional national licenses. This strategic move underscores Coinbase's commitment to compliance and expansion in the European market, positioning it as a key player in the region's evolving crypto landscape. The approval not only enhances Coinbase's regulatory standing but also signals growing institutional acceptance of digital assets under structured frameworks. As of June 2025, this development marks a critical step in bridging traditional finance with the crypto economy while reinforcing the EU's role as a progressive jurisdiction for blockchain innovation.
Coinbase Secures MiCA License in Luxembourg, Paving Way for EU Expansion
Coinbase has obtained regulatory approval from Luxembourg's Commission de Surveillance du Secteur Financier, marking its official registration as a crypto asset service provider under the Markets in Crypto-Assets (MiCA) framework. This strategic MOVE grants the exchange a "passport" to operate across all 27 EU member states without requiring additional national licenses.
The Luxembourg license reflects Coinbase's deliberate choice of jurisdiction, citing the country's progressive blockchain policies—four specialized laws enacted in recent years. The exchange had previously secured individual registrations in Germany, France, Ireland, Italy, the Netherlands, and Spain. "MiCA creates a unified regulatory standard," the company noted, "allowing millions of Europeans to access compliant crypto services through a single framework."
This development places Coinbase alongside competitors like Gemini, Crypto.com, OKX, and Bitstamp in the race for MiCA compliance. The regulation, which took effect in June 2023, establishes Europe's first comprehensive licensing regime for digital asset firms, replacing fragmented national rules with harmonized standards.
ZachXBT Exposes $4M Social Engineering Scam Targeting Coinbase Users
On-chain investigator ZachXBT has uncovered a sophisticated $4 million social engineering scheme orchestrated by Christian Nieves, alias Daytwo or PawsOnHips. The scammer impersonated Coinbase support agents, luring victims into setting up wallets with compromised seed phrases through phishing sites.
Stolen funds were swiftly funneled into casinos or converted to privacy-focused Monero (XMR) to obscure trails. Luxury purchases and gambling losses accounted for most of the illicit proceeds. A November 2024 incident saw $240K stolen from an elderly victim, with funds split between Roobet casino and XMR conversions.
New York Scammer Steals $4 Million from Coinbase Users Through Impersonation Scheme
A New York-based scammer operating under the alias 'Daytwo' or 'PawsOnHips' has siphoned over $4 million from Coinbase users by impersonating customer support representatives. Crypto investigator ZachXBT traced the operation, revealing a trail of luxury purchases and casino gambling losses.
The scammer, identified as Christian Nieves, employed social engineering tactics to deceive victims. In one instance, $240,000 was stolen from a single target in 2024. Despite leaving ample digital evidence, Nieves demonstrated significant success in exploiting Coinbase's user base.
Impersonation scams targeting Coinbase customers have surged, with ZachXBT previously identifying $6.5 million stolen in November 2024 and estimating $150 million in total losses by February 2025. The exchange's recent data breach may further exacerbate these security concerns.
