EU MiCA Boost: Gemini & Coinbase Licensing

• Gemini to receive Malta-based EU-wide license under MiCA.
• Coinbase expected to gain Luxembourg approval, marking U.S. crypto expansion.
• Licensing speed sparks regulatory concerns over oversight quality.

Under the EU’s Markets in Crypto‑Assets (MiCA) regulation, Gemini is set to secure a license issued by Malta, while Coinbase is expected to receive approval in Luxembourg. These licenses will enable both crypto giants to operate across all 27 EU member states, significantly expanding their reach in the European market. This milestone comes as the MiCA framework officially kicks in, offering clear rules for crypto companies operating within the EU.

Regulatory tensions mount over approval pace

While these approvals are a major win for Gemini and Coinbase, they’ve also stirred up some regulatory friction. Malta has been quick to issue licenses to major crypto players, including OKX and Crypto.com. This rapid pace has prompted concerns from the European Securities and Markets Authority (ESMA) and other national regulators like France, who fear a “race to the bottom” in oversight standards. Despite these concerns, Luxembourg maintains that its licensing process for Coinbase adheres to high regulatory standards.

U.S. crypto firms expand EU footprint

Both Gemini and Coinbase have been actively expanding in Europe. Gemini, founded by the Winklevoss twins, will leverage the Malta license to serve the entire EU. Coinbase, already employing around 200 people in Europe, plans to increase its presence in Luxembourg. With MiCA providing regulatory clarity, both companies are set to strengthen their roles in the global crypto landscape.

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