Crypto exchange Gemini’s co-founders, Cameron and Tyler Winklevoss, have donated million each in bitcoin to Donald Trump’s presidential campaign. Tyler criticized the Biden administration for allegedly weaponizing government agencies, as well as the U.S. Securities and Exchange Commission (SEC), against the crypto industry. Cameron echoed these sentiments, declaring Trump as the pro-bitcoin, pro-crypto, and […]
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New York Recovers $50 Million From Gemini — Bans the Exchange From Crypto Lending in the State
New York Attorney General Letitia James has secured a million settlement from cryptocurrency exchange Gemini for Earn program investors. This settlement ensures that all defrauded investors will fully recover the assets they invested but were unable to withdraw when the program collapsed. Additionally, Gemini is now banned from operating any crypto lending program in […]
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Gemini Taps Kaiko for Enhanced Cryptocurrency Derivatives Trading
Kaiko, a prominent player in the crypto data sector, has announced a strategic partnership with Gemini Foundation, the derivatives trading platform of the cryptocurrency exchange, Gemini. This collaboration will see Gemini Foundation utilizing Kaiko’s Benchmark Reference Rates to power its derivatives platform. The partnership aims to enhance the stability and security of Gemini’s platform by […]
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$2.18 Billion Digital Assets in Kind Returned to Earn Users, Gemini Says
Cryptocurrency exchange Gemini announced on Wednesday that Earn users have received .18 billion of their digital assets in kind, representing 97% of their assets owed and a 232% recovery since Genesis halted withdrawals. This recovery follows a settlement with Genesis and other creditors, ensuring that Earn users will receive 100% of their digital assets back […]
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New York Judge Determines SEC’s Case Against Gemini and Genesis Is Plausible for Alleged Securities Law Violations
A New York federal judge has ruled that the Securities and Exchange Commission (SEC) has “plausibly alleged” that Gemini and Genesis violated securities laws through the Gemini Earn program. Judge Edgardo Ramos Highlights Hurdles in Dismissing Injunction Claims Early; Cites Howey and Reves A federal court in New York has affirmed the plausibility of the […]
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Email Shows Digital Currency Group and Gemini Explored Merger Before Genesis Bankruptcy
In an email found within the motion by Digital Currency Group (DCG) and Barry Silbert to dismiss the lawsuit initiated by the New York Attorney General, discussions of a potential merger between Gemini and Genesis were revealed before Genesis ultimately opted to declare bankruptcy. “Combined Gemini and Genesis would be a juggernaut and would be […]
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Coin-for-Coin Payback — Gemini Announces Full Recovery of Crypto Assets for Earn Users After Genesis Settlement
Gemini has reached a settlement with Genesis and other creditors within the Genesis bankruptcy proceedings, promising a full in-kind return of digital assets to Earn program users. This resolution, pending bankruptcy court approval, signifies a major victory for users, with over .8 billion in assets set to be returned. Potential Full Crypto Asset Recovery for […]
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Gemini Agrees to Over $1 Billion Restoration in Settlement With New York Regulators
In an agreement with the New York Department of Financial Services (NYDFS), the Winklevoss-led cryptocurrency exchange Gemini has committed to returning over billion to its customers. The settlement, which also includes a million fine, comes as a significant development for the exchange amidst several ongoing legal challenges with big-name crypto firms and heightened […]
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Crypto Exchange Gemini Secures Registration in France — Now Operational in Over 70 Countries
Cryptocurrency exchange Gemini is now registered as a digital asset service provider in France. The crypto firm explained that following the launch of its EU headquarters in Ireland in 2022, “Gemini is now operational in more than a dozen EU countries and more than 70 countries worldwide, with more countries on the roadmap.”
Gemini Registered in France
Crypto exchange Gemini announced Wednesday that it is now registered as a digital asset service provider (DASP) by Autorité des marchés financiers (AMF), France’s financial markets regulator. Gemini detailed:
Following the launch of our EU headquarters in Ireland in 2022, Gemini is now operational in more than a dozen EU countries and more than 70 countries worldwide, with more countries on the roadmap.
The crypto exchange explained that with its French DASP registration, its products “will be available to retail and institutional users across France in the coming weeks.” Gillian Lynch, Gemini’s head of Ireland and the EU, opined: “We are delighted to welcome customers based in France onto the Gemini platform in the coming weeks as we further expand access to crypto across Europe.”
In April last year, EU lawmakers voted to implement the Markets in Crypto-Assets Regulation (MiCA). “By creating a standardized legal framework across the EU, MiCA not only increases the accountability of service providers but also fosters consumer confidence in using and investing in crypto-assets,” Gemini described. “This harmonization also facilitates easier access to cross-border services, ensuring EU consumers benefit from a diverse and competitive market.”
An AMF survey, released in November last year, revealed: “The rate of individual holdings of crypto assets stands at 9% of the French population. The ownership rate of listed shares stands at 7%, close to the level estimated by the Kantar Institute in March 2023.” Moreover, the survey showed that “New investors invest less frequently in the stock market than traditional investors” and “Many have taken an interest in crypto assets.”
What do you think about Gemini obtaining registration in France? Let us know in the comments section below.
Regulatory Victory: Gemini Receives Digital Asset Service Provider Registration In France
Cryptocurrency exchange Gemini, founded by the Winklevoss twins, has been granted crypto registration by the French markets watchdog Autorite des marches financiers (AMF).
According to a recent announcement made by the exchange, this approval allows Gemini to offer its services as a virtual asset services provider in France. The company plans to roll out its products to both retail and institutional clients in the coming weeks.
Gemini Seizes Growth Opportunities In Europe
As announced, Gemini customers in France will gain access to a wide range of cryptocurrencies for trading, as well as “advanced” trading platforms such as ActiveTrader. Institutional clients will also benefit from Gemini eOTC, an electronic over-the-counter trading solution.
Gemini’s regulatory approval in France marks a milestone in the company’s European expansion strategy. According to the exchange’s statement, with a strong sense of regulatory support for the cryptocurrency industry in Europe, Gemini sees growth opportunities in the French jurisdiction.
The founders of Gemini recognized the need for regulatory clarity, which is on the horizon with the European Union (EU) Markets in Crypto-Assets Regulation (MiCA). MiCA allows crypto companies to obtain licenses in one EU country and operate across the entire EU.
Interestingly, Gemini chose Ireland as its European headquarters, joining other major US crypto companies that have selected Ireland as their regulatory hub. On this matter, Gillian Lynch, Gemini’s Head of Ireland and EU stated:
We are delighted to welcome customers based in France onto the Gemini platform in the coming weeks as we further expand access to crypto across Europe. France is a global innovation leader and has a vibrant crypto community as showcased by the success of Paris Blockchain Week. We are excited to soon be able to provide French customers with compliant and secure access to the future of finance as we continue on our mission to unlock the next era of financial, creative, and personal freedom
US Crypto Companies Seek Regulatory Haven In Europe
According to a CNBC report, major US crypto companies are increasingly looking to expand their operations in Europe driven by regulatory challenges in the United States.
The crypto industry has faced scrutiny from US regulators, including the Securities and Exchange Commission (SEC). Gemini and Genesis, a crypto lender, were charged by the SEC last year for allegedly selling unregistered securities. Gemini is contesting the lawsuit, asserting that its interest-bearing products do not qualify as securities.
Per the report, the European Union offers a “more favorable” regulatory environment, and the MiCA regulation provides a framework for companies to operate across EU member states.
While the US has yet to approve comprehensive federal-level crypto regulation, recent developments indicate a growing acceptance of cryptocurrency trade. The SEC’s approval of the first-ever spot Bitcoin exchange-traded funds (ETFs) is seen as a significant step toward integrating crypto into traditional finance.
Despite initial concerns about market manipulation, the approval of Bitcoin ETFs by the SEC is a positive development for the industry. At the same time, several bills related to crypto regulation are making their way through the US House of Representatives.
Featured image from Shutterstock, chart from TradingView.com