According to Reuters, sources say that Coinbase and Gemini are expected to obtain EU crypto licenses from Luxembourg and Malta respectively, approved to operate across 27 countries under the MiCA regulations.
This move has sparked regulatory disagreements in Europe, with some countries skeptical of Malta's rapid approval of OKX, Crypto.com, and Gemini, fearing a "regulatory race to the bottom". French AMF and ESMA officials have also expressed concerns about uneven enforcement. Meanwhile, Coinbase is expanding its small team in Luxembourg and strengthening its compliance efforts.
