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 congratulate Gemini.
Gemini – the first firm registered by the Central Bank of Ireland as a Virtual Asset Service Provider. This is significant for Ireland as the Government foccuses 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 reports, Gemini 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.
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