Insiders: Coinbase and Gemini are expected to soon obtain licenses to operate within the European Union

BlockBeats news, on June 14th, according to Reuters, informed sources revealed that two cryptocurrency companies are about to obtain licenses to operate across the entire European Union as regulatory differences intensify in the speed and rigor of licensing in certain countries. According to the EU's Crypto Asset Market Regulation (MiCA), which came into effect earlier this year, EU member states can issue licenses allowing cryptocurrency companies to operate within 27 countries. Two insiders revealed that Gemini, a cryptocurrency company founded by billionaire Winklevoss brothers, is about to receive an operating license from the Maltese government. Malta is the smallest member state of the European Union. Previously, Malta had approved the operating licenses for OKX and (Crypto.com) within weeks after the new regulations came into effect. A source familiar with the matter stated that the regulatory debate is intensifying as there is widespread expectation that Luxembourg will soon grant Coinbase a license. Although the application has been progressing for several months, some have pointed out that Coinbase's planned business in Luxembourg is relatively small in scale. A spokesperson for Coinbase did not comment on the application, but stated that the company employs approximately 200 employees in Europe and has invested resources in staffing to ensure operational security.