The French financial regulator, Autorité des Marchés Financiers (AMF), has given its approval to Gemini, allowing the cryptocurrency exchange to operate in France. This expansion means that Gemini is now available in over 12 European countries. Customers in France will soon have access to Gemini’s trading platform and be able to trade over 70 cryptocurrencies on both the website and mobile app. While the French government allows crypto exchanges to operate, it closely monitors the advertising of crypto products to ensure accurate information is conveyed. Influencers promoting crypto products can now obtain a certificate from AMF to showcase their competency in financial markets and crypto.
European regulators continue to monitor the cryptocurrency industry and take measures to close loopholes that allow tax avoidance. Last year, finance ministers in Europe approved the Market in Crypto-Assets (MiCA) legislation, which aims to regulate the crypto market and prevent tax fraud. The MiCA bill faced delays but eventually received approval from all 27 EU finance ministers. It is seen as necessary, especially after the collapse of FTX. As the crypto industry continues to evolve, regulators are working to ensure transparency and protect investors.
Hot Take: Gemini Expands Its European Presence with Approval from French Regulator
Gemini’s approval by the Autorité des Marchés Financiers (AMF) marks a significant milestone for the cryptocurrency exchange as it expands its operations into France. With this approval, Gemini can now offer its services to retail and institutional users across the country. This move further solidifies Gemini’s presence in Europe, as it already operates in more than 12 European countries. The expansion into France provides more opportunities for customers to access Gemini’s trading platform and actively trade a wide range of cryptocurrencies. As regulatory frameworks continue to develop and evolve, exchanges like Gemini are adapting to meet compliance requirements while expanding their global footprint.
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