Reuters: Coinbase and Gemini are expected to soon obtain licenses to operate across the EU

ChainCatcher news, according to Reuters, informed sources revealed that as the pace and rigor of regulatory agencies issuing licenses in certain countries diverge, two cryptocurrency companies are about to obtain licenses to operate across the European Union.

Under the EU's Markets in Crypto-Assets Regulation (MiCA), which came into effect earlier this year, EU member states can issue licenses allowing crypto companies to operate in all 27 countries.

Two informed sources revealed that the cryptocurrency company Gemini, founded by billionaire Winklevoss brothers, is about to receive an operating license from the Maltese government. Malta is the smallest member state in the EU. Previously, Malta approved operating licenses for OKX and Crypto.com within weeks of the new regulations coming into effect.

One informed source stated that as there is widespread expectation that Luxembourg is about to grant a license to Coinbase, the debate surrounding regulation is intensifying. Although the application has been in progress for several months, some pointed out that the scale of the business Coinbase plans to conduct in Luxembourg is relatively small. A spokesperson for Coinbase did not comment on the application but stated that the company employs about 200 people in Europe and has invested resources in staffing to ensure operational security.