The notice followed a meeting betwixt the cryptocurrency co-founders, the Irish Prime Minister Leo Varadkar, and the representatives of the Industrial Development Agency (IDA), the body in charge of foreign financing into Ireland.
“We’re grateful for the support of the Irish Government and the IDA as we embark on the following, exciting steps in our journey. We look forward to being a part of and adding to the vibrant tech community in Dublin,” the Winklevoss brothers stated in a statement shared with Decrypt. ” Cryptocurrency is as transformative as the Internet, and we are committed to unlocking the opportunities it represents.”
Taking to Twitter, Gemini CEO Tyler Winklevoss stated yesterday’s discussions in Dublin were centered on “the profound promise of cryptocurrency and the importance of common sense regulation to realize that promise.”
Awesome meeting this morning with @LeoVaradkar, the Prime Minister of Ireland. We talked about the profound promise of cryptocurrency and the importance of common sense regulation to realize that promise. We believe MiCA is the fact that common sense regulation. We likewise announced that @Gemini has… pic.twitter.com/Iv3NmPTmju
— Cameron Winklevoss (@cameron) May 25, 2023
The CEO likewise indicated that Gemini thinks that Markets in Cryptocurrency Assets (MiCA), the recently adopted regulatory framework to govern digital currencies in the European Union (EU), “ is the fact that common sense regulation.”
“We likewise announced that Gemini has made Ireland its European HQ. Onward!,” added Tyler Winklevoss.
Gemini was the 1st cryptocurrency company to be registered as a Virtual Investment Service Provider (VASP) by the Monetary Authority of Ireland in July 2022.
In an interview with The Irish Times, Gemini’s president Cameron Winklevoss stated that Ireland will be the exchange’s “entry point” into the rest of Europe once the MiCA regulation is fully implemented across the EU by 2025.
Gemini to stay in the US
Amid a wave of wider crackdowns on digital currency corporations in the United States, which likewise targeted rival corporations Kraken and Coinbase Crypto exchange, the Securities and Exchange Commission (SEC) in January charged Gemini with the sale of unregistered securities related to the now-terminated Earn program, with the regulator’s action prompting the exchange co-founders to start looking at other jurisdictions.
Earlier this coming week, the Winklevoss twins visited London, where they met officials at the Financial Conduct Authority (FCA) and Bank of England, hinting at the United Kingdom as a possible new base for the cryptocurrency exchange.
“There are so numerous headwinds at this time in the United States it’s hard to get anything done there. And so to be able to keep building our business and invest in hiring, we have to look elsewhere,” Cameron Winklevoss informed The Telegraph earlier this coming week, adding that “the United Kingdom is a great market to consider that.”
Still, Gemini has no intention of leaving the United States entirely.
“We’re not leaving the United States, we’re going continuation to fight the good fight there. On the other hand, we likewise understand that you can vote with your feet, and that’s our right and we will do that when faced with a hostile environment,” added Cameron Winklevoss.