Coinbase and Gemini Accelerate EU Expansion…Expected to Secure Luxembourg and Malta Licenses under MiCA Regulation
Summary
- Coinbase and Gemini are predicted to secure licenses in Luxembourg and Malta respectively under the MiCA Regulation.
- Upon obtaining these licenses, both exchanges will be able to operate legally across all 27 EU member states.
- Due to concerns over Malta’s regulatory review and supervisory capacity, ESMA is examining the procedures for issuing licenses.
Cryptocurrency exchanges Coinbase and Gemini are accelerating their entry into the European Union (EU).
According to Reuters on the 14th (local time), Coinbase and Gemini are expected to obtain Virtual Asset Service Provider (VASP) licenses in Luxembourg and Malta, respectively, in line with the EU’s cryptocurrency regulatory framework, the MiCA Regulation.
If they secure these licenses, both exchanges will be able to operate legally across all 27 EU member states.
Meanwhile, as Malta has recently expedited license issuance to major exchanges like OKX and Crypto.com, concerns have been raised about the strictness of its regulatory review and supervisory capacity. As a result, the European Securities and Markets Authority (ESMA) is currently reviewing Malta’s licensing procedures and will soon release a relevant report.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
