Gemini & Coinbase to Secure EU Licenses Amid MiCA Rollout

- Gemini, Coinbase poised for EU operating licenses - Approvals anticipated from Malta for Gemini, Luxembourg for Coinbase On June 16, 2025, Cointelegraph reported that Gemini and Coinbase are set to secure operating licenses, which fall under the European Union's Markets in Crypto-Assets (MiCA) regulations. Gemini will likely receive approval from Malta, while Coinbase is expected to get its license from Luxembourg. This development signifies a significant step in their European expansion. The MiCA framework, which began taking effect in June 2024, aims to create regulatory consistency and enhance investor protection. The European Securities and Markets Authority (ESMA) will issue final guidance, after which regulators expect full implementation by December 2024. Observers positively view this framework, considering it a move toward regulatory clarity within the crypto space. However, some express concerns, particularly regarding stablecoins and the requirement for issuers to hold significant reserves in European banks. Gemini and Coinbase will join other major crypto exchanges that have adapted to MiCA regulations, with Bybit recently gaining regulatory approval in the region through Austria and Binance updating its procedures in Poland to comply. According to CoinMarketCap, as of June 16, 18:08 UTC, Tether USDt (USDT) is trading at $1 and shows a 0.006% change in 24-hour trading volume.