Gemini chooses Ireland for its European HQ

Source: Adobe

Cameron Winklevoss, co-founder of the crypto exchange Gemini, announced that the company will establish its European headquarters in Ireland. Gemini, which is managed by both Cameron Winklevoss and his twin Tyler, is currently based in New York. Cameron Winklevoss met with the Irish Prime Minister Leo Varadkar to discuss the potential of cryptocurrencies and the importance of sensible regulation. He also highlighted the Markets in Crypto-Assets regulation, which will be introduced next year, and announced that Gemini will establish its European headquarters in Ireland.

Leo Varadkar, the Irish Prime Minister, also took to Twitter to report that Gemini is the first company registered by the Central Bank of Ireland as a “virtual asset service provider” (VASP). Varadkar stated that Gemini’s decision to establish its headquarters in Ireland emphasizes the country’s competitive offering for the international financial services sector.

The European Council recently adopted the MiCA, which will require companies that wish to issue, trade, and safeguard crypto assets, tokenized assets, and stablecoins in the 27-country bloc to obtain a license. Gemini obtained its VASP license in July 2022, according to a statement. Gillian Lynch, Gemini’s head of Ireland and the EU, stated last year that “Gemini was founded on the ethos of asking for permission, not forgiveness. Since day one, Gemini has engaged with regulators around the world to help shape thoughtful regulation that both protects consumers and fosters innovation.”

Back at home

Earlier this year, the US Securities and Exchange Commission charged both Gemini and bankrupt crypto lender Genesis with the unregistered offering and sale of securities to retail investors in the US. At the time, Tyler Winklevoss, co-founder of Gemini, expressed disappointment with the SEC’s decision and mentioned that Gemini and other creditors were working together to recover funds.

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