Coinbase, Gemini Eye EU Expansion With New Licenses: Reuters

Author

Sujha Sundararajan

Author

Sujha Sundararajan

About Author

Sujha has been recognised as 🟣 Women In Crypto 2024 🟣 by BeInCrypto for her leadership in crypto journalism.

Author Profile

Share

Copied

Last updated: 

June 16, 2025

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Coinbase and Gemini are reportedly advancing their EU presence by securing licenses from Luxembourg and Malta regulators, respectively.

According to sources, Winklevoss Twins-led Gemini is on the verge of obtaining a license in Malta. The crypto giant had already secured a Markets in Financial Instruments Directive II (MiFID II) license from the Malta Financial Services Authority (MFSA) last month.

Malta, the smallest country in the European Union, earlier approved licenses to exchanges, including OKX and Crypto.com.

EU member states were allowed to issue licenses for crypto firms under the new Markets in Crypto-Assets (MiCA) regulation that was implemented last year. The rollout has been one of the most significant regulatory shifts in Europe’s crypto landscape.

Malta’s Rapid License Approvals Raise Concerns Among EU Regulators

An unidentified senior regulatory official told Reuters that the pace of approvals from Malta and other nations, where there are fewer staff, is concerning.

However, per a spokesperson for Malta’s FSA noted that the “expedited processing” was due to “in-depth understanding acquired over these years.”

Malta has so far granted licenses to four crypto asset service providers, the representative added. Besides, OKX previously said that Malta’s licensing process was “rigorous” and its local money laundering standards were strict.

Luxembourg to Grant License to Coinbase

Luxembourg, which recently labelled crypto firms as “high-risk” entities for money laundering, is gearing up to grant a license to Coinbase.

One source pointed out that the size of the largest US-based crypto exchange’s intended operations in Luxembourg is relatively less.

With over 200 Coinbase employees in Europe, the exchange’s license application has been in progress for months. Coinbase has invested in staff to ensure smooth and safe operations in the EU region, a representative from the exchange noted.

Further, Luxembourg was a “high-bar, well-respected global financial centre,” the spokesperson said, adding that Coinbase plans to hire more people this year, at least 20.