Gemini and Coinbase Pursue EU Licenses Under MiCA

Gemini and Coinbase are seeking EU-wide licenses via MiCA, aiming to enhance their market presence in Europe.

This initiative could influence the European crypto industry by increasing competition and regulatory scrutiny.

Gemini Leverages Malta’s Fast-Track for EU License

Gemini and Coinbase, both prominent crypto exchanges, are actively pursuing EU-wide licenses under the MiCA framework. Gemini plans to apply through Malta’s fast-track process, illustrating a strategic move to broaden market access.

Coinbase’s acquisition of Deribit, valued at $2.9 billion, marks a notable expansion effort in their European operations. Their CEO, Brian Armstrong, emphasizes on increasing presence in the crypto derivatives market, which is represented by Daily TU Updates.

Coinbase Acquires Deribit in $2.9 Billion Deal

The regulatory push could alter market dynamics in Europe, with increased offerings in crypto derivatives potentially boosting trading volumes. Market participants are closely watching these developments, as they may impact overall liquidity.

Financially, the move indicates a significant commitment to the European market, as both exchanges aim to capitalize on institutional and retail interest. This could lead to changes in regulatory approaches across EU member states. A spokesperson from the European Securities and Markets Authority (ESMA) noted, “We are reviewing Malta’s procedures due to concerns over the pace and depth of oversight.”

Prior Licensing Drives European Crypto Consolidation

Previously, companies like OKX and Crypto.com secured licenses under similar frameworks, causing a surge in European market activity. Observers note that such moves typically encourage market consolidation and broader adoption.

Based on prior trends, the successful expansion of Gemini and Coinbase could increase competition and drive regulatory alignment across Europe. Expert opinions suggest potential shifts in market structure if regulatory standards continue to adapt.