Insiders: Coinbase and Gemini will obtain EU crypto licenses from Luxembourg and Malta, respectively

ChainCatcher news, according to Reuters, informed sources say that Coinbase and Gemini are expected to obtain EU crypto licenses from Luxembourg and Malta respectively, 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 approvals for OKX, Crypto.com, and Gemini, fearing a "race to the bottom" in regulation. 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.