According to Reuters, two major cryptocurrency companies, Gemini and Coinbase, are expected to receive EU licenses issued by Malta and Luxembourg, respectively, allowing them to operate across the 27 EU countries under the 'Markets in Crypto-Assets Regulation' (MiCA) that took effect this year. Malta has previously quickly approved OKX and Crypto.com, raising concerns among regulatory authorities in other member states about its approval speed and regulatory capacity. ESMA is reviewing Malta's licensing process and plans to release a related report.