Gemini, owned by the Winklevoss twins, seeks a crypto license in the UAE.

The cryptocurrency exchange Gemini, owned by the Winklevoss twins, is expanding its services to the United Arab Emirates.

The company announced on Wednesday that it is in the process of acquiring a cryptocurrency license to serve customers in the UAE.

“As a forward-thinking, global financial hub, the UAE is continuing its tradition of leadership by establishing itself as a fast-emerging hub for crypto,” Gemini tweeted. “By applying for a license, we will be taking another step towards making Gemini a truly global company.”

Gemini said it conducted a study on cryptocurrency adoption in 20 countries, and found that more than 35 percent of those surveyed in the UAE had purchased cryptocurrency, compared to only 20 percent in the US.

“We found that those in the UAE were rapidly acquiring crypto and putting it to use making in-person purchases,” Gemini said.

This move comes shortly after Gemini announced that it had chosen Ireland as the location for its European headquarters.

Cameron Winklevoss tweeted on May 25 that he had met with Ireland Prime Minister Leo Varadkar to discuss “the profound promise of crypto and the importance of common sense regulation to realize that promise,” while also promoting the Markets in Crypto-Assets regulation, which will be set forth next year.

Troubles back at home

Earlier this year, the US Securities and Exchange Commission charged both Gemini and bankrupt cryptocurrency lender Genesis with the unregistered offering and sale of securities to retail investors in the US in regards to Gemini Earn.

At the time, Tyler Winklevoss expressed his disappointment on Twitter.

“It’s disappointing that the @SECGov chose to file an action today as @Gemini and other creditors are working hard together to recover funds. This action does nothing to further our efforts and help Earn users get their assets back. Their behavior is totally counterproductive.”

However, both Gemini and Genesis asked a US district court in New York to dismiss the case on May 26.

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