PANews reported on June 16 that according to people familiar with the matter, the world's two largest cryptocurrency companies are about to obtain licenses to operate throughout the European Union, but regulators are disagreeing on the speed and strictness of approval in some countries. According to the EU's Markets in Crypto-Assets Regulation (MiCA), which came into effect this year, member states can issue licenses that allow crypto companies to operate in 27 countries, but two sources said that some countries are concerned about the speed of approval - Malta, as the smallest member state of the European Union, has approved platforms such as OKX and Crypto.com within weeks of the implementation of the new regulations, and is now close to issuing a license to Gemini. The French Financial Markets Authority (AMF) publicly warned that the lack of direct regulatory power of the European Securities and Markets Authority (ESMA) could lead to a "regulatory race to the bottom." A regulatory official pointed out that countries with fewer staff, such as Malta, have approved too quickly, and their processes have been reviewed by ESMA, and relevant reports are about to be released. The Malta Financial Services Authority responded that the fast approval was due to its many years of experience and strict anti-money laundering standards.

It was reported this morning that according to people familiar with the matter: Coinbase and Gemini will obtain EU crypto licenses from Luxembourg and Malta respectively .