Latest news with #MarketsinCryptoAssets
Yahoo
3 days ago
- Business
- Yahoo
Crypto Exchange Kraken Wins MiCA License in Ireland
Cryptocurrency exchange Kraken has been granted a license to operate in the Republic of Ireland under the European Union's Markets in Crypto Assets (MiCA) regulation. Kraken will now be able to offer crypto services across the 30 countries in the European Economic Area (EEA), allowing it to scale its business much faster across the region, the exchange said on Wednesday. "This license places us in a strong position to expand our product offering, grow our institutional and retail client base and deliver secure, accessible and fully regulated crypto services to millions more people across the EU," Kraken's co-CEO Arun Sethi said. Acquiring a MiCA license provides added assurance that an exchange is meeting the EU-wide standards on consumer protections, transparency and oversight, Kraken added. The sixth largest crypto exchange in the world by trade volume joins a number of its peers in winning MiCA licenses in recent months. Coinbase won approval in Luxembourg earlier this month, while Bybit did so in Austria in May.
Business Insider
4 days ago
- Business
- Business Insider
‘This Is Remarkable,' Says Mark Palmer About Coinbase Stock
Coinbase (NASDAQ:COIN) shares have been on a tear recently, gaining ~70% over the past three months and moving within striking distance of their all-time high of $357.39, set on November 9, 2021. Confident Investing Starts Here: Much of the recent momentum stems from two key regulatory breakthroughs. First, the U.S. Senate passed the bipartisan GENIUS Act, which aims to establish a legal framework for stablecoins. Second, Coinbase secured a Markets in Crypto Assets (MiCA) license, granting it the ability to offer crypto trading, custody, staking, and payment services across all 27 EU countries, along with Iceland, Liechtenstein, and Norway. Building on that regulatory tailwind, Coinbase also rolled out several strategic initiatives that have further bolstered sentiment. Most importantly, it launched Coinbase Payments to facilitate USDC stablecoin transactions, a move that directly aligns with the GENIUS Act's framework and opens up a scalable new revenue stream beyond trading volumes. At the same time, the company is pushing to use USDC as collateral for U.S. futures trading through a partnership with Nodal Clear, potentially marking the first use of stablecoins as collateral in a regulated U.S. futures market. Not mincing his words here, Benchmark analyst Mark Palmer claims the ongoing positive news flow is nothing short of 'remarkable.' Palmer sees even more upside on the horizon. The analyst believes Coinbase's position as the leading U.S. crypto platform puts it in a prime spot to benefit from the recently introduced CLARITY Act in the House. The bill aims to create a comprehensive regulatory framework for digital assets, a move Palmer views as essential for unlocking broader institutional participation. Among the biggest potential winners from this legislative clarity is Coinbase's staking service. Palmer points out that the bill's initial draft states staking is not a securities offering, a crucial distinction that could spark a 'sizeable increase' in institutional interest, thanks to the yield it provides. Taken together, these regulatory advances and Coinbase's proactive moves to capitalize on them have prompted Palmer to revisit his valuation model. 'We believe the combination of an improving operating environment for COIN due to legislative and regulatory actions supportive of its growth prospects and the company's initiatives aimed at taking full advantage of those changes merits a higher earnings multiple for its stock,' the analyst said. Reflecting this bullish outlook, Palmer raised his price target on COIN from $301 to $421, suggesting a potential 22% upside. His rating on the stock remains a Buy. Amongst Palmer's colleagues, 12 other analysts join him in the bull camp and with an additional 11 Holds, the stock claims a Moderate Buy consensus rating. However, the average price target suggests the shares have overshot themselves; at $274.15, the figure factors in a 12-month slide of ~23%. it will be interesting to see if analysts raise their price targets or downgrade their ratings shortly. (See COIN stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
Yahoo
6 days ago
- Business
- Yahoo
Benchmark updates Coinbase outlook with 40% hike, reiterates 'Buy' rating
Benchmark updates Coinbase outlook with 40% hike, reiterates 'Buy' rating originally appeared on TheStreet. Broker Benchmark raised the outlook on the stock performance of the crypto exchange, Coinbase Global (Nasdaq: COIN), in its latest research report. The broker boosted the stock's price target from $300 to $421, a hike of 39.86%. Not only that, it also doubled down on its 'Buy' rating on COIN. Founded in 2012, Coinbase is the largest crypto exchange in the U.S. The company went public on Nasdaq on Apr. 14, 2021. Coinbase even entered the much-coveted S&P 500 club on May 19. For those unfamiliar, the S&P 500 is a stock market index that tracks the performance of the 500 largest public companies in the U.S. The inclusion of Coinbase in the index marked not only a pivotal moment for the company but also for the broader crypto industry because it is the first crypto-focused company to join the is anticipated to grow on the back of the crypto market structure bill once it comes into law, the broker's report mentions. The enactment of the CLARITY Act could lead to staking getting more popular which is a positive sign for Coinbase, the report adds. Benchmark analyst Mark Palmer wrote: "The CLARITY Act seeks to establish a comprehensive regulatory framework for digital assets in the U.S. that could provide much-needed certainty around the U.S. government's treatment of crypto." While a dominant player in the U.S. crypto industry, Coinbase secured a Markets in Crypto Assets (MiCA) license from Luxembourg on June 20. The license allows the company to offer its services across the 30 nations in the European Economic Area. At press time, COIN was trading at $306.18, up more than 25% over the last five days. Benchmark updates Coinbase outlook with 40% hike, reiterates 'Buy' rating first appeared on TheStreet on Jun 23, 2025 This story was originally reported by TheStreet on Jun 23, 2025, where it first appeared.
CNBC
20-06-2025
- Business
- CNBC
Coinbase secures EU crypto license, swaps Ireland for Luxembourg as main hub
Coinbase has secured a license from Luxembourg to offer crypto services across the European Union and will make the country its central hub in the region. The U.S. crypto exchange's main European base has been in Ireland since 2023. Coinbase said Friday that it obtained its Markets in Crypto Assets (MiCA) license from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF). MiCA is a sweeping regulation that aims to create a harmonized legal framework for crypto across all 27 EU member states. The rules, which came fully into force late last year, also aim to reduce risks for consumers buying crypto assets following a series of scandals in the sector. It makes Coinbase the first U.S. crypto exchange to receive a MiCA license. Rival firm Gemini, which is owned by the Winklevoss twins, is expected to receive its own EU license from Malta soon. Gemini chose Malta as its MiCA hub in January. "Coinbase is all in on Europe, and we're advocating for crypto's future across the continent," Coinbase CEO Brian Armstrong told CNBC. "MiCA has set the standard, and Luxembourg is leading the way with its pro-business climate and thoughtful approach to regulation." Previously, Coinbase decided on Ireland as its central EU hub in 2023 and launched a big public relations blitz around the move at the time. However, the company ultimately backtracked on this decision, concluding Luxembourg would make more sense for its status as a "forward-thinking financial hub." "The decision was made less-so due to Ireland, but rather for the reasons that Luxembourg presented a highly compelling option," Daniel Seifert, vice president and regional managing director of EMEA at Coinbase, told CNBC. Luxembourg has four blockchain-related policies that have been signed into law, whereas Ireland currently lacks any crypto-specific laws. He added that Coinbase is still investing heavily in Ireland with "imminent" plans to add around 50 jobs to its local Dublin office. Seifert has also personally relocated to the country from Germany as CEO of Coinbase's Irish entity. Globally, Coinbase isn't the first to receive crypto authorization across the EU — but it is one of the largest. Rival exchanges Bybit, OKX and BitGo have all secured their own respective MiCA licenses.
Yahoo
06-06-2025
- Business
- Yahoo
MoonPay gains BitLicense and money transmitter licence in New York
MoonPay has secured BitLicense and money transmitter licences from the New York State Department of Financial Services (NYDFS), enabling the company to extend its cryptocurrency services to residents of New York. This regulatory nod allows New Yorkers to access MoonPay's complete range of fiat-to-crypto services, including the purchase and sale of cryptocurrencies through various payment methods and the MoonPay Balance feature. The BitLicense, a regulatory standard within the cryptocurrency industry, completes the firm's regulatory framework across the US, enabling it to serve in all 50 states. The announcement comes shortly after the crypto payments company revealed its new headquarters in New York City. MoonPay CEO and co-founder Ivan Soto-Wright said: 'With the approval of our New York BitLicense and Money Transmitter Licenses, MoonPay now holds the golden regulatory stack for crypto in the U.S., allowing us to directly serve customers in every single state without gaps in coverage. 'As a U.S.-founded company with a headquarters in New York City, we're immensely proud of this milestone and look forward to our continued work with regulators nationwide to make crypto accessible to everyone.' Additionally, MoonPay is registered in multiple international regions, including the UK, Australia, Canada, Italy, Ireland, and Jersey. In December 2024, MoonPay secured a crypto asset service provider licence under the EU's Markets in Crypto Assets (MiCA) regulation. Last month, MoonPay partnered with Mastercard to facilitate global stablecoin transactions using Mastercard-branded cards. "MoonPay gains BitLicense and money transmitter licence in New York " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
