Gemini, a cryptocurrency exchange founded by the Winklevoss twins, has received approval for cryptocurrency registration from French market watchdog Autorite des Marches Financiers (AMF).
According to recent presentation The exchange’s approval allows Gemini to offer its services as a virtual asset service provider in France. The company plans to launch the product to both retail and institutional customers in the coming weeks.
Gemini Seizes Growth Opportunities in Europe
As announced, Gemini customers in France will have access to a variety of cryptocurrencies as well as “high-end” cryptocurrencies for trading. trading platform Such as ActiveTrader. Institutional clients can also benefit from Gemini eOTC, our electronic over-the-counter trading solution.
Gemini’s regulatory approval in France marks a milestone in the company’s European expansion strategy. According to a statement from the exchange, Gemini sees growth opportunities in the French jurisdiction with strong regulatory support for the cryptocurrency industry in Europe.
Gemini’s founders recognized the need for regulatory clarity. european union (EU) Crypto Asset Regulation (MiCA) Market. MiCA allows cryptocurrency companies to obtain a license in one EU country and operate throughout the EU.
Interestingly, Gemini has chosen Ireland as its European headquarters, joining other major US cryptocurrency companies that have chosen Ireland as their European headquarters. regulatory hub. Commenting on the matter, Gillian Lynch, Gemini’s Head of Ireland and EU, said:
We are excited to welcome France-based customers to the Gemini platform in the coming weeks as we further expand access to cryptocurrencies across Europe. 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.
US Crypto Firm Seeks Regulated Haven in Europe
According to CNBC reportMajor U.S. cryptocurrency companies are increasingly looking to expand in Europe due to regulatory concerns in the United States.
The cryptocurrency industry has been under scrutiny by U.S. regulators, including the Securities and Exchange Commission (SEC). Gemini and cryptocurrency lender Genesis Charged by SEC Last year, he was indicted on charges of selling unregistered securities. Gemini is contesting the lawsuit, arguing that its interest-bearing products do not qualify as securities.
According to the report, the European Union offers a “more favorable” regulatory environment and the MiCA regulations provide a framework for companies to operate across EU member states.
The United States has yet to approve comprehensive federal cryptocurrency regulation, but recent developments suggest growing acceptance of cryptocurrency trading. First branch approval by SEC Bitcoin exchange traded fund (ETF) is seen as an important step in integrating cryptocurrencies into traditional finance.
Despite initial concerns about market manipulation, the SEC’s approval of the Bitcoin ETF is a positive development for the industry. At the same time, several bills related to cryptocurrency regulation are passing the U.S. House of Representatives.
Featured image from Shutterstock, chart from TradingView.com
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