Gemini exchange to seek UAE crypto license.

The cryptocurrency exchange Gemini, which is owned by the Winklevoss twins, has announced that it is in the process of acquiring a crypto service license to serve customers in the United Arab Emirates (UAE). The move comes as a result of increased interest in cryptocurrencies among UAE citizens and positive conversations with regulators in the country. Gemini’s co-CEOs, Cameron and Tyler Winklevoss, also stated that they were motivated by “hostility and lack of clarity” around crypto regulation in the United States. The twins have not yet decided where to base operations in the UAE, but have hinted that they may establish headquarters in both Abu Dhabi and Dubai. According to Gemini’s Global State of Crypto Report, more than 35% of those surveyed in the UAE had purchased crypto, compared to only 20% in the United States. Additionally, nearly 32% of non-owners in the UAE said they are likely to purchase crypto in the next year, with 33% of crypto holders in the UAE planning to use it to make in-person purchases at brick-and-mortar retailers. Cointelegraph reached out to Gemini for comment, but was referred to the exchange’s blog post.

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