As part of its expansion outside the US, the Gemini crypto exchange has opened a second headquarters in Dublin, Ireland. The company received registration from the local central bank.
Congratulations @Gemini -the first firm registered by the Central Bank of Ireland as a Virtual Asset Service Provider. This is significant for Ireland as the Government focuses on innovation as a driver of growth. I wish Gemini every success as they build their team in Ireland. pic.twitter.com/Y3WULIqwNc
— Leo Varadkar (@LeoVaradkar) May 25, 2023
In a meeting with Prime Minister Leo Varadkar, the founders of the platform, Cameron and Tyler Winklevoss, said they chose the jurisdiction because of a robust regulatory system, an extensive talent pool, and a mature technology community.
“We looked at the entire EU as potential entry points and we were very comfortable with Ireland and its regulators. So for us it was the obvious natural choice,” said Gemini.
According to the twins, against the backdrop of the adoption of a bill on the comprehensive regulation of the crypto-assets market (MiCA) Europe is waiting for the “Cambrian explosion of innovation.”
The decision to expand comes amid growing regulatory pressure in the United States. In June 2022, the U.S. Commodity Futures Trading Commission sued Gemini. The documents alleged that the platform was misleading the agency regarding bitcoin futures contracts.
In January, the US Securities and Exchange Commission accused Gemini of selling unregistered securities.
In the spring, the company announced plans to open an office in India as part of its expansion in the Asia-Pacific region. At the same time, the founding brothers announced that they were considering the UK as a place for a second headquarters.
Recall that in April, Cameron Winklevoss criticized US regulators for double standards during the First Republic Bank crisis.
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