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 inย chargeย of foreign financing into Ireland.
โWeโre grateful for the support of the Irish Government and the IDA as we embark on theย following, exciting steps in our journey. We look forward to being a part of and adding to the vibrant tech community in Dublin,โ the Winklevoss brothers stated in a statement shared with Decrypt. โ Cryptocurrency is as transformative as the Internet, and we are committed to unlocking the opportunities it represents.โ
Taking to Twitter, Gemini CEO Tyler Winklevoss stated yesterdayโs discussions in Dublin were centered on โthe profound promise of cryptocurrency and the importance of common sense regulation to realize that promise.โ
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 isย theย factย that common sense regulation. We likewise announced that @Gemini hasโฆ pic.twitter.com/Iv3NmPTmju
โ Cameron Winklevoss (@cameron) May 25, 2023
The CEO likewise indicatedย that Gemini thinksย that Markets in Cryptocurrency Assets (MiCA), the recently adopted regulatory framework to govern digitalย currencies in the European Union (EU), โ isย theย factย that common sense regulation.โ
โWe likewise announced that Gemini has made Ireland its European HQ. Onward!,โ added Tyler Winklevoss.
Gemini was the 1st cryptocurrency company to be registered as a Virtual Investment Service Provider (VASP) by the Monetaryย Authority of Ireland in July 2022.
In an interview with The Irish Times, Geminiโs president Cameron Winklevoss stated that Ireland will be the exchangeโs โentry pointโ 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 digitalย currency corporations in the Unitedย States, which likewise targeted rival corporations Kraken and Coinbaseย Cryptoย 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 regulatorโs action prompting the exchange co-founders toย start looking at other jurisdictions.
Earlier thisย comingย week, the Winklevoss twins visited London, where they met officials at the Financial Conduct Authority (FCA) and Bank of England, hinting at the Unitedย Kingdom as a possible new base for the cryptocurrency exchange.
โThere are so numerous headwinds atย thisย time in the Unitedย States itโs hard to get anything done there. And so toย beย ableย to keep building our business and invest in hiring, we have to look elsewhere,โ Cameron Winklevoss informed The Telegraph earlier thisย comingย week, adding that โthe Unitedย Kingdom is a great market to consider that.โ
Still, Gemini has no intention of leaving the Unitedย States entirely.
โWeโre not leaving the Unitedย States, weโre going continuation to fight the good fight there. Onย theย otherย hand, we likewise understand that you can vote with your feet, and thatโs our right and we will do that when faced with a hostile environment,โ added Cameron Winklevoss.
