Coinbase and Gemini Vie for MiCA Licenses in Malta and Luxembourg

Leading cryptocurrency exchanges, Coinbase and Gemini, are competing to secure digital asset financial services licenses in Malta and Luxembourg. This pursuit follows increasing regulatory trends within the European Union, as companies strive to comply with stringent new rules. Malta and Luxembourg are attractive destinations for cryptocurrency companies due to their comparatively more flexible regulatory approaches compared to some other European nations. Obtaining these licenses aims to enable Coinbase and Gemini to offer broader services to their EU clients, including cryptocurrency trading and digital asset management. A final decision on granting licenses is expected within the next few months, representing a significant step in the development of Europe’s cryptocurrency sector. The companies are fiercely competing for these licenses due to their significant importance to their operations in the region. The competition involves various aspects of service provision and compliance with the new European regulations.