- Cryptocurrency exchange Gemini is now registered as a cryptocurrency services provider in France.
- The exchange plans to offer its services and products to French customers in the coming weeks.
- Coinbase also recently received a VASP license from French regulators.
On January 17, the US-based cryptocurrency exchange co-founded by the Winklevoss twins Cameron and Tyler announced that it had secured a Digital Asset Service Provider (DASP) registration from French financial markets regulator L’Autorité des Marchés Financiers (AMF).
The milestone follows Gemini’s unveiling of its EU headquarters in Ireland in 2022 and will see the exchange expand its cryptocurrency products and services to retail and institutional clients across France.
Gillian Lynch, Gemini’s head of Ireland and EU, said Gemini plans to begin offering these services and products in the coming weeks.
“France is a global innovation leader and has a vibrant cryptocurrency community, as evidenced by the success of Paris Blockchain Week. We are excited to soon provide French customers with compliant and secure access to the future of finance as we continue our mission to usher in the next era of finance, creativity and personal freedom.“Lynch added.
Cryptocurrency exchanges seek licenses before MiCA
Gemini will join Coinbase when it registers as a DASP in France. presentation Last December, it secured a virtual asset service provider (VASP) license from French regulators. Cryptocurrency exchange OKX also released an application for domestic regulatory approval in May 2023.
The exchange’s efforts to secure registration in France come as the cryptocurrency industry prepares for the implementation of Markets in Crypto Assets (MiCA) regulations.
The EU’s comprehensive cryptocurrency regulatory rules came into effect last year and are seen as a concrete step towards ensuring that cryptocurrency companies comply with compliance requirements, including anti-money laundering (AML). The rules are also intended to boost consumer protection while boosting cryptocurrency innovation.