| The U.S.-based crypto exchange Gemini's twin founders, Cameron and Tyler Winklevoss, have announced that they selected Ireland as their European base. The
new headquarters in Ireland's capital Dublin will oversee the
operations in Europe and grow the platform's services in the region. - Gemini's
founders cited the country's powerful regulatory system, wide talent
pool, and well-established technology community while explaining the
decision.
- The pair also met with the country's Prime Minister, Leo Varadkar, before the announcement.
- Cameron Winklevoss defined Ireland as the company's entry point to the European Union (EU).
- Gemini already has an office in Dublin with 12 employees.
- The
firm plans to increase the headcount in the office after the
newly-passed European crypto regulations, the Markets in Crypto Assets
(MiCA), comes into effect.
- The
popular crypto exchange obtained a license from the Central Bank of
Ireland in July 2022 to operate as a virtual asset service provider in
the country, becoming Ireland's first registered crypto firm.
- Several other crypto exchanges, including Binance, Coinbase, and Kraken, also have offices in Ireland.
- Amid
the heightened tension around the crypto regulations and increased
scrutiny towards the crypto exchanges in the U.S., Gemini has made many
attempts to consolidate its roots outside its native country.
- In January, the U.S. Securities and Exchange Commission (SEC) accused Gemini of selling unregistered securities.
- The company recently announced
its plans to establish a new engineering hub in India as its
second-largest hub after the one in the U.S., along with the plans to
expand its business team in Singapore to boost the growth in the
Asia-Pacific (APAC) region.
- Earlier in May, the firm also launched a crypto derivatives platform dubbed Gemini Foundation that only caters to users outside the U.S.
- Further,
Cameron and Tyler Winklevoss recently met with the U.K.'s Financial
Conduct Authority (FCA) and the Bank of England (BoE), the country's
financial regulator and central bank, to discuss a potential move to
London.
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