Gemini is a cryptocurrency exchange that was established with a focus on providing a secure and regulated platform for trading digital assets. Founded by Cameron and Tyler Winklevoss in 2014, Gemini operates with the belief in seeking permission rather than asking for forgiveness, emphasizing regulatory compliance and transparency.
Gemini has obtained licenses and regulatory approvals from various financial authorities, including being registered as a virtual asset service provider (VASP) by the Central Bank of Ireland. The exchange offers a range of cryptocurrencies for trading, but also it include Bitcoin, Ethereum, and others. Security is a top priority for Gemini, and they employ robust measures to protect user funds and personal information.
Gemini has expanded its offerings to include custody solutions for institutional clients, allowing them to securely store their digital assets. The exchange has also ventured into other cryptocurrency-related services, such as the Gemini Dollar and the Gemini Pay mobile app.
Following the announcement made by Gemini’s co-founder Cameron Winklevoss that the company would make Ireland its European headquarters, the cryptocurrency exchange Gemini will soon open a second location in Ireland.
New York is the location of the headquarters of Gemini, which is run jointly by Cameron Winklevoss and his twin brother Tyler.
On Thursday, Cameron Winklevoss took to Twitter to announce that he had met with the Prime Minister of Ireland, Leo Varadkar, to discuss “the profound promise of cryptocurrency and the importance of common sense regulation to realise that promise.” He also used the opportunity to promote the Markets in Crypto-Assets regulation, which is scheduled to be enacted in 2019.
We also made the announcement that @Gemini has moved its European headquarters to Ireland. Onward!” Cameron Winklevoss tweeted.
Varadkar also announced on Twitter that Gemini became the first company to be registered by the Central Bank of Ireland as a “virtual asset service provider” (VASP).
“Gemini’s decision to locate in Ireland highlights our competitive offering for the international financial services sector,” Varadkar also said. “Gemini’s decision to locate in Ireland highlights our competitive offering.”
At the beginning of this month, the European Council adopted MiCA, which stipulates that businesses need to seek a license in order to produce, trade, and secure crypto assets, tokenized assets, and stablecoins within the European Union’s 27 member states. Gemini received its VASP license in the month of July 2022, according to a release.
Gemini established itself on the principle that one should seek permission rather than pardon. Gillian Lynch, the head of Gemini’s operations in Ireland and the EU, stated this the previous year. “Since day one, Gemini has engaged with regulators around the world to help shape thoughtful regulation that both protects consumers and fosters innovation,” Lynch said.
At the beginning of this year, the United States Securities and Exchange Commission brought charges against both Gemini and the defunct cryptocurrency lender Genesis for the unlawful offering and sale of securities to retail investors in the United States.
At the time, Tyler Winklevoss of Gemini referred to the decision made by the SEC as “disappointing.”
He wrote, “It’s disappointing that the SECGov chose to file an action today as @Gemini and other creditors are working hard together to recover funds.” “It’s disappointing that the SECGov chose to file an action today.”
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