What are the legal requirements for setting up an EU Coinbase style business

[mr_random]

If it is to serve only EU citizens and will take a coinbase style approach of acting like a dealer, what laws do I have to respect? Do I need any licenses?

The business will run in the UK but will likely have foreign bank accounts due to UK banks being bitcoin unfriendly.

[gmx95]

I would say, open up first and wait until someone will tell you that you need a license. Most likely in the UK it will fall under the "e-money" kind of regulation, but you never know. They might decide that bitcoin is a separate category, in that case there is probably no current regulation that covers it.