Gemini and Coinbase ready to obtain licenses in EU
Coinbase and Gemini near EU MiCA licenses amid regulatory tensions
Coinbase and Gemini are on the verge of securing key licenses under the European Union’s Markets in Crypto-Assets (MiCA) regulation, which enables crypto firms to operate seamlessly across all 27 EU member states.
This regulatory milestone would significantly bolster the firms’ presence in the region and aligns with broader efforts to bring digital assets under formal financial oversight, reports Cryptopolitan.
MiCA, which came into effect earlier this year, marks the EU’s most comprehensive crypto regulation to date, promising clarity and a uniform licensing regime.
Concerns over fast-track approvals and regulatory disparity
Despite the promise of regulatory harmony, MiCA’s rollout has stirred tensions among EU regulators. Malta’s rapid licensing of exchanges such as OKX, Crypto.com, and soon Gemini, has prompted scrutiny from other national authorities and the European Securities and Markets Authority (ESMA).
Critics, including France’s AMF, worry that a “race to the bottom” could emerge if smaller nations issue licenses without sufficient regulatory rigor. ESMA is reportedly investigating Malta’s practices, although the Maltese Financial Services Authority maintains that their speed stems from prior licensing experience and stringent anti-money laundering standards.
Coinbase nears Luxembourg license as EU footprint expands
Meanwhile, Coinbase is finalizing its MiCA licensing process in Luxembourg. Although its initial operations in the country are expected to be relatively modest, the exchange’s broader EU strategy is accelerating. Having incorporated Coinbase Luxembourg SA in late 2024 with €30,000 in share capital and a leadership team stationed locally, the company plans to grow its European headcount by at least 20 roles. Coinbase’s approval in Luxembourg would mark a symbolic victory, particularly as it was the first U.S. crypto firm to enter the S&P 500.
Recently we wrote that KuCoin has launched its first locally regulated digital asset exchange in Thailand, marking a significant milestone in the company’s global expansion.
