Crypto Exchange Gemini Expands into France as a Registered Digital Asset Service Provider

Crypto Exchange Gemini Expands into France as a Registered Digital Asset Service Provider

Digital asset service provider Gemini has recently obtained registration from the Autorité des Marchés Financiers (AMF), the French financial markets regulator, enabling it to offer its services to retail and institutional customers in France. This milestone not only allows Gemini to cater to the French market but also grants its users access to a wide range of 70 cryptocurrencies through various platforms.

Gemini’s decision to expand its operations abroad comes as a response to the regulatory scrutiny it faced in the United States. The cryptocurrency platform has been involved in legal disputes with the U.S. Securities and Exchange Commission (SEC) regarding its Earn product. Additionally, it is currently facing a lawsuit from New York authorities, accusing it of defrauding investors through an investment product. To mitigate regulatory risks, Gemini launched the Gemini Foundation, a non-U.S. derivatives platform available in 30 countries. The platform is now considering establishing a second headquarters in the United Kingdom.

With the recent registration as a Digital Asset Service Provider in France, Gemini aims to tap into the country’s vibrant crypto community. Gillian Lynch, Gemini’s Head of Ireland and EU, expressed excitement about entering the French market and providing compliant and secure access to the future of finance. She highlighted France’s position as a global innovation leader, citing the success of Paris Blockchain Week as evidence of its thriving crypto community. Gemini plans to offer its comprehensive services, including its website, mobile app, Gemini eOTC, and the ActiveTrader platform to French customers.

Gemini’s entry into France brings a host of benefits for both retail and institutional customers. French users will gain access to a diverse range of 70 cryptocurrencies through Gemini’s platforms, ensuring a seamless and secure trading experience. The regulatory approval from the AMF also adds an extra layer of confidence and trust for customers, as they can engage with the platform knowing it adheres to the relevant financial regulations.

Gemini currently operates in over a dozen EU countries, positioning itself as a significant player in the European market. Furthermore, it has a presence in approximately 70 countries worldwide, with plans to expand its reach even further. The company’s commitment to global expansion is exemplified by its diversified offering of services and products across multiple jurisdictions.

Gemini’s reputation and expertise in the crypto space have led to its involvement in the development of spot Bitcoin exchange-traded funds (ETFs) in the United States. Asset manager 7RCC has chosen Gemini’s trading platform for its eco-friendly spot Bitcoin ETF application. This partnership is a testament to the trust placed in Gemini to provide reliable and efficient infrastructure for innovative financial products.

Gemini’s registration as a Digital Asset Service Provider in France opens up new opportunities for the exchange in the European market. By expanding its operations abroad, Gemini aims to overcome the regulatory challenges it faced in the United States. The company’s commitment to compliance and security, coupled with its wide range of cryptocurrencies and global presence, positions it as a key player in the ever-evolving landscape of the cryptocurrency industry. Through its entry into France, Gemini is poised to unlock the next era of financial, creative, and personal freedom for its customers.

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