Coinbase and Ripple Payments Europe gained Luxembourg MiCA-related authorization, expanding passporting rights across the EU and EEA as regulators warn the post-deadline transition could strain anti-money laundering controls.
Coinbase and Ripple Payments Europe have secured Luxembourg authorization under the EU’s Markets in Crypto-Assets regulation, strengthening their ability to serve customers across Europe as some unlicensed platforms retreat after the July 1 deadline. Coinbase received a license from Luxembourg’s Commission de Surveillance du Secteur Financier, while Ripple Payments Europe obtained preliminary crypto-asset service provider approval on June 23 and full CSSF authorization on July 6. Combined with Ripple’s existing Electronic Money Institution license, the approvals support regulated exchange, payments, custody and stablecoin services across the European Economic Area. The developments come as EU regulators warn that market exits and new customer onboarding during the MiCA transition could test anti-money laundering controls.