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Exclusive to the British media: Coinbase and Gemini will each obtain EU encryption licenses from Luxembourg and Malta.
According to Gate News bot, citing exclusive sources from Reuters, cryptocurrency giants are expected to receive EU approval amid increasing regulatory divergence. The article mentions that Coinbase and Gemini are expected to obtain EU crypto licenses from Luxembourg and Malta respectively, and are authorized to operate across 27 countries under the MiCA regulations.
This move has sparked regulatory divergence in Europe, with some countries expressing doubts about Malta's rapid approval of OKX, Crypto.com, and Gemini, fearing a "regulatory race to the bottom." Officials from France's AMF and ESMA have also expressed concerns about uneven enforcement. Meanwhile, Coinbase is expanding its small team in Luxembourg to strengthen compliance efforts.
Source: Reuters