Gemini Cryptocurrency Exchange Opens European Headquarters in Ireland Amid Growing US Regulatory Uncertainty

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Crypto exchange Gemini has found a new European headquarters as US regulators remain hostile towards the digital asset industry.

On Thursday, Cameron Winklevoss, who co-founded the exchange with his twin brother Tyler, announced that his company would establish a regional headquarters in Ireland.

“Impressive meeting this morning with Leo Varadkar, the Prime Minister of Ireland. We talked about the deep promise of cryptocurrencies and the importance of common sense regulation to make that promise a reality. We believe that MiCA is that common sense regulation. We also announced that Gemini has made Ireland its European headquarters. Advance!”

MiCA stands for Markets in Crypto Assets Regulation, a European Union legislation that will provide rules on supervision, consumer protection and environmental safeguards for crypto assets. The law also includes measures against other financial crimes, including market manipulation, money laundering and terrorist financing.

The European Union passed MiCA earlier this month, and the legislation will take effect next year.

Varadkar, the Irish Prime Minister, notes that Gemini is the first company registered by the Central Bank of Ireland as a Virtual Asset Service Provider (VASP).

“This is important for Ireland as the government focuses on innovation as an engine of growth. I wish Gemini every success in building their team in Ireland.

Gemini’s decision to locate in Ireland highlights our competitive offering to the international financial services industry. We are proud of how it has grown from 60 employees in Dublin 30 years ago to approximately 56,000 people across the country working in finance today.”

Gemini is expanding beyond the US as rival cryptocurrency exchanges face closer scrutiny from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

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