The Winklevoss-owned cryptocurrency exchange Gemini Trust Co. will set up its European headquarters in Dublin, Ireland.
US-based Gemini announced it will run its European operations out of Dublin, Ireland. Cameron Winklevoss shared the latest information via his Twitter feed on Thursday as American cryptocurrency exchanges scramble to widen operations amid the intensifying regulatory crackdown in the US.
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
Bloomberg reports Gemini cited Dublin’s thriving start-up culture as a pull factor for the exchange to establish its European operations there. Following the European Union’s Markets in Cryptocurrency Assets (MiCA) regulation was approved past week, plenty of cryptocurrency corporations are seeing as a shift away from the US.
Gemini Is the 1st Cryptocurrency Exchange to Register as a VASP in Ireland
Leo Varadkar, Prime Minister of Ireland, congratulated Gemini on Twitter.
Congratulations @Gemini -the 1st company registered by the Monetary Authority of Ireland as a Virtual Investment Service Provider. This is whole lot of for Ireland as the Government concentrates on innovation as a driver of growth. I wish Gemini every success as they build their team in Ireland. pic.twitter.com/Y3WULIqwNc
— Leo Varadkar (@LeoVaradkar) May 25, 2023
The PM further stated Gemini’s decision to set up its headquarters in Ireland points towards the Irish government’s dedication to innovation.
Varadkar said:
Gemini’s decision to locate in Ireland outlines our competitive offering for the international financial services sector. I wish Gemini every success as they build their team in Ireland.
Gemini Launches Offshore Cryptocurrency Derivatives Exchange
Less than a 30 days ago, Gemini launched Gemini Foundation, an offshore digital currency derivative platform. The new exchange launched in 30 countries but is not available to United States, United Kingdom, or EU users.
Gemini stated the platform would allow users to start trading with Bitcoin (BTC) perpetual contracts, denominated in Gemini Dollar (GUSD) and offers 100x leverage.
