PANews reported on June 16 that Reuters quoted people familiar with the matter as saying that Coinbase and Gemini are expected to obtain EU crypto licenses from Luxembourg and Malta respectively, and be allowed to operate in 27 countries in accordance with MiCA regulations. This move has caused regulatory differences in Europe. Some countries are skeptical about Malta's rapid approval of OKX, Crypto.com and Gemini, and are worried about the formation of a "regulatory race to the bottom." French AMF and ESMA officials also expressed concern about uneven law enforcement. At the same time, Coinbase is expanding its small team in Luxembourg and strengthening compliance investment.