TLDR
- Coinbase is in the process of securing a MiCA license from Luxembourg to expand its European operations.
- Gemini is expected to obtain its EU license from Malta, which is known for its fast-track approvals.
- The MiCA regulatory framework allows licensed firms to operate across all 27 EU member states.
- Several companies including ZBD, Bitstamp and MoonPay have already received licenses from EU regulators.
- Some regulators are raising concerns about the speed and leniency of license approvals in certain EU countries.
Coinbase and Gemini are advancing their efforts to secure multiple licenses under the European Union’s MiCA regulatory framework. These licenses will enable both cryptocurrency firms to operate across all 27 EU member states without the need for separate approvals. With applications in progress and regulators already granting licenses to other firms, the competition for early access to the European market is intensifying.
Coinbase Moves Forward with Luxembourg Plans
Coinbase is currently awaiting license approval from Luxembourg, one of the EU’s established financial hubs. The crypto exchange submitted its application weeks ago and expects a decision shortly. Coinbase also plans to expand its Luxembourg office, adding over 20 new staff members by year-end.
This move aligns with Coinbase’s broader strategy to strengthen its European presence amid growing regulation in the United States. The company views Luxembourg as a key gateway to the EU’s single market. Given Luxembourg’s reputation, Coinbase is focusing on operational growth and compliance readiness within the region.
Gemini Targets Malta for Regulatory Entry
Gemini, founded by the Winklevoss twins, is looking to secure its EU license from Malta. Malta, known for its quick regulatory processing, has already approved several firms shortly after the MiCA rollout. Gemini’s license would allow it to operate across the EU, leveraging Malta’s fast-track system.
However, some national regulators have raised concerns about Malta’s speed and leniency in issuing approvals. These concerns include possible regulatory loopholes that could lead to financial crimes or market instability. Despite this, Gemini is expected to complete its licensing process in the coming weeks.
🇪🇺 Gemini and Coinbase are poised to obtain EU-wide licenses under the Markets in Crypto-Assets (MiCA) regulation, according to Reuters 🪪
— Yumi Space 🍁 (@yumispacee) June 14, 2025
MiCA Accelerates Licensing Across Europe
Since the introduction of MiCA, several crypto firms have already received licenses from various European countries. In December 2024, ZBD obtained the first MiCA license from the Dutch Authority for the Financial Markets. Other companies like Bitstamp, MoonPay, and Hidden Road followed soon after, with approvals from the Netherlands.
In Germany, BaFin granted MiCA licenses to Bitpanda and Boerse Stuttgart Digital, enabling expanded brokerage and exchange services. These approvals confirm that EU member states are actively embracing the new crypto regulation. Each license granted under MiCA allows firms to operate seamlessly across all EU countries.
Regulatory Concerns Grow Despite Progress
Despite the positive trend, some regulators are calling for a more cautious approach to MiCA licensing. They fear that rapid approvals may lead to fraud, weak compliance, or illicit financial activities. As licensing continues, ensuring consistent enforcement and due diligence remains a top concern for EU authorities.
Coinbase, meanwhile, continues to pursue its expansion plans across Europe under MiCA. With competition heating up, Coinbase aims to secure its position among the first global firms licensed under the framework. Its ongoing efforts highlight how MiCA is reshaping the future of crypto regulation in the EU.
