Coinbase plans to launch crypto derivatives in the EU and will obtain MiFID II license through acquisition

Coinbase said it is planning a key acquisition and it has reached an agreement to buy a certain holding company that holds a MiFID II license. MiFID II refers to the EU’s latest financial instruments regulatory rules. If it obtains a MiFID II license, Coinbase will be able to start offering regulated crypto derivatives such as futures in the EU, in addition to the spot trading of Bitcoin and other cryptocurrencies it already offers. The deal is subject to regulatory approval and Coinbase expects to close later in 2024. Coinbase said it will seek to adhere to the EU's strict compliance standards, including requirements related to combating money laundering, customer transparency and sanctions. (CNBC)