Insiders: CEX and CEX are expected to soon obtain licenses to operate within the European Union.

On June 14, Reuters reported, people familiar with the matter revealed that the two crypto companies are on the verge of obtaining licenses that can operate across the European Union as regulators become more divided over the speed and rigor with which they issue licenses in certain countries. Under the European Union’s Regulation on the Regulation of the Markets in Cryptoassets (MiCA), which came into effect earlier this year, EU member states can issue licenses that allow crypto companies to operate in 27 countries. CEX, a cryptocurrency company founded by billionaire Winklevoss brothers, is about to receive a license from the Maltese government to operate, according to two people familiar with the matter. Malta is the smallest member of the European Union. Previously, Malta had already approved CEXs and CEX operating permits within weeks of the new regulations coming into effect. The debate around regulation has intensified amid the widespread expectation that Luxembourg will soon grant a license to CEXs, a person familiar with the matter said. Although the application has been in progress for several months, it has been noted that the scale of the business that CEX plans to carry out in Luxembourg is relatively small. A spokesperson for CEX did not comment on the application, but said the company employs about 200 people in Europe and invests resources in staffing to ensure the safety of its operations.