Coinbase Secures MiCA License in Luxembourg
CW25. Coinbase has obtained a MiCA license in Luxembourg, establishing it as its EU hub. Bybit plans to launch a Solana-based DEX called Byreal with CEX-DEX integration. KuCoin, amid regulatory pressure, steps up compliance by restricting non-KYC users and joining BitGo’s settlement network.
Coinbase licensed in EU
Coinbase has obtained a Markets in Crypto Assets (MiCA) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF). Coinbase also picked Luxembourg for its central EU hub, reversing an earlier decision to select Ireland.
Previously OKX and Bybit have already obtained licenses from Malta and Austria respectively.There's also rumor saying Gemini will obtain a license from Malta.
As MiCA is a harmonized legal framework for crypto across all 27 EU member states, licensed in any of the member countries means permission to operate the whole EU. There are critics that those small countries, due to their lack of serious regulations, open an easy door to crypto exchanges.
Bybit to launch Solana-based DEX Byreal
Crypto exchange Bybit has announced that it aims to release its new Solana-based decentralized exchange Byreal in the third quarter, with a testnet version coming out at the end of June.
Bybit Ben Zhou added on X that what makes the new exchange special is that it has CEX (centralized exchange) and DEX synergy. Ben Zhou also said that Byreal will have “unified liquidity and speed” and was designed with RFQ (Request for Quote) and CLMM (Concentrated Liquidity Market Maker) routing.
Kucoin to enhance compliance
Kucoin, top of tier-2 exchanges for a long time and now silient for a while since the DOJ's accusation, announced efforts to enhance compliance this week.
- Dormancy Fees will be applied to non-KYC and non-KYB accounts.
- Accounts from restricted locations (e.g., the United States and the mainland of China), will not be permitted to complete KYC/KYB verification
Meanwhile, Kucoin annouced its partnership with BitGo of off-exchange settlement
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