Gemini and Coinbase are actively pursuing EU-wide licenses under the MiCA framework, which may alter the cryptocurrency market landscape in the region.
Gemini Leverages Malta's Fast-Track for EU License
Gemini and Coinbase, both prominent crypto exchanges, are seeking EU-wide licenses under the MiCA framework. Gemini plans to apply through Malta's fast-track process, illustrating a strategic move to broaden market access.
Coinbase Acquires Deribit in $2.9 Billion Deal
Coinbase's acquisition of Deribit, valued at $2.9 billion, marks a notable expansion effort in their European operations. CEO Brian Armstrong emphasizes the focus on increasing presence in the crypto derivatives market.
Licensing Drives European Crypto Consolidation
The regulatory push could alter market dynamics in Europe, with increased offerings in crypto derivatives potentially boosting trading volumes. Market participants are closely watching these developments, as they may impact overall liquidity. A spokesperson from the European Securities and Markets Authority (ESMA) noted, 'We are reviewing Malta’s procedures due to concerns over the pace and depth of oversight.'
The successful expansion of Gemini and Coinbase could increase competition and drive regulatory alignment across Europe, which may redefine market structure.
