ChainCatcher News, according to a report by Reuters, sources say that Coinbase and Gemini are expected to obtain EU crypto licenses from Luxembourg and Malta, respectively, allowing them to operate in all 27 countries under the MiCA regulations.

This move has sparked regulatory divergence in Europe, with some countries expressing doubts about Malta's rapid approval of OKX, Crypto.com, and Gemini, fearing it could lead to a 'race to the bottom' in regulation. Officials from France's AMF and ESMA have also expressed concerns about uneven enforcement. Meanwhile, Coinbase is expanding its small team in Luxembourg to strengthen its compliance efforts.