The regulatory tension in the United States has caused many large crypto-focused companies to look abroad, and Gemini is no exception.
The firm led by the Winklevoss twins has managed to secure a license to operate as a Virtual Asset Service Provider in Ireland. The company said it will host its European operation in Dublin.
- Leo Varadkar, the prime minister of Ireland, took the opportunity to formally congratulations Gemini.
Gemini is the first firm registered by the Central Bank of Ireland as a Virtual Asset Service Provider. This is significant for Ireland as the Government focuses on innovation as a driver of growth. I wish Gemini every success as they build their team in Ireland.
- In addition, the PM also said that the company’s decision to base operations in Ireland “highlights” their “competitive offering for the international financial services sector.”
- Per recent reportsGemini has also announced plans to establish its headquarters for its EU operations in Dublin.
- This comes ahead of the introduction of the world’s first comprehensive regulatory framework for cryptocurrency assets across the EU – MiCA.