Gemini

Bank AI

Read

<p class="is-style-lead">Crypto exchange Gemini has revealed its strategic decision to set sail from the stormy seas of US regulation to the promising shores of Dublin, Ireland, establishing its European base.</p>



<p class="is-style-default">The Winklevoss twins, founders of the exchange, view this move as a tactical response to the shifting currents of regulatory oversight and a leveraged opportunity to tap into Ireland’s vast reservoir of tech talent and robust regulatory framework.</p>



<p><a href="https://crypto.news/price/gemini-dollar/">Gemini</a>’s choice of Dublin for its European headquarters comes when <a href="https://crypto.news/state-of-us-crypto-regulations-more-hacks-and-rug-pulls-as-pepe-leads-the-meme-coin-charge-weekly-recap/">regulatory pressure</a> is mounting in the <a href="https://crypto.news/state-of-us-crypto-regulations-more-hacks-and-rug-pulls-as-pepe-leads-the-meme-coin-charge-weekly-recap/">US</a>, prompting an exodus of crypto firms seeking shelter in more favorable environments overseas. </p>



<figure class="wp-block-image size-full"><img decoding="async" width="905" height="290" src="https://crypto.news/app/uploads/2023/05/image-81.png" alt="Gemini chooses Ireland as its hub amid US crypto turbulence - 1" class="wp-image-14161893"><figcaption class="wp-element-caption">Source: Leo Varadkar on Twitter</figcaption></figure>



<p>The company’s decision reflects a strategic recognition of Ireland’s strong regulatory system, deep talent pool, and thriving tech sector.</p>



<p>On May 25, Cameron and Tyler Winklevoss affirmed their decision to expand their company’s operations throughout Europe from their new Irish base.&nbsp;</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="902" height="300" src="https://crypto.news/app/uploads/2023/05/image-80.png" alt="Gemini chooses Ireland as its hub amid US crypto turbulence - 2" class="wp-image-14161892"><figcaption class="wp-element-caption">Source: Cameron Winklevoss on Twitter</figcaption></figure>



<p>While the US grapples with crypto regulation inconsistency and legal tangles &#8211; as reflected in the Securities and Exchange Commission’s (SEC) recent <a href="https://crypto.news/us-sec-charges-genesis-and-gemini-with-unregistered-securities-offerings/">allegations</a> against Gemini of unregistered securities sales &#8211; Cameron Winklevoss acknowledged the complexities, emphasizing the need for a harmonious balance between innovation and regulation.</p>



<h3 class="wp-block-heading" id="a-leap-of-faith-or-a-calculated-move">A leap of faith or a calculated move?</h3>



<p>Despite the Irish Central Bank Chief’s call for a ban on crypto advertising earlier this year and a slight dip in cryptocurrency adoption among Irish adults, Ireland’s appeal as a crypto-friendly nation remains strong.&nbsp;</p>



<p>Notable crypto players like <a href="https://crypto.news/exchanges/binance/">Binance</a> and Kraken have already laid their foundations in Ireland alongside many fintech startups.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            You might also like:
        </span>

    
    
        <a href="https://crypto.news/binance-enters-the-nft-lending-market-with-loan-service/" class="cn-block-related-link__link">
            Binance enters the NFT lending market with loan service         </a>

    
</div>


<p>Leo Varadkar remarked on Gemini’s move, indicating the significance of the decision as his government prioritizes innovation as a growth driver.&nbsp;</p>



<p>Interestingly, Gemini already has a foothold in Dublin, with an office staffed by 12 employees and a virtual asset service provider license under its belt, granted by the Central Bank of Ireland in July 2022.</p>



<h3 class="wp-block-heading" id="the-bigger-picture">The bigger picture</h3>



<p>In the broader context, Gemini’s expansion is not confined to Europe. In April, the firm <a href="https://www.gemini.com/blog/gemini-to-expand-global-engineering-and-operations-teams-with-new-india-office" target="_blank" rel="noopener">announced</a> plans to establish an engineering hub in India, hoping to tap into the burgeoning tech talent pool.&nbsp;</p>



<p>The recent adoption of the new Markets in Crypto-Assets regulations (<a href="https://crypto.news/mica-explained-what-does-the-eus-first-crypto-regulation-mean-for-the-industry/">MiCA</a>) in the European Union has further paved the way for Gemini to expand its workforce and solidify its European presence.</p>



<p>Cameron Winklevoss anticipates a tremendous boost in the crypto industry following the rollout of MiCA, heralding a “Cambrian explosion of innovation.” This indicates the company’s commitment to diversifying its global presence and harnessing its crucial talent pools.</p>



<p>While Gemini continues to retain its New York offices under the Gemini Trust Company, LLC, establishing its European base in Dublin underlines a strategic approach toward navigating the turbulent regulatory landscape and ensuring resilience in its global operations.</p>



<p>Gemini’s new Irish base embodies its aspiration to continue providing seamless services to its European clientele while deftly maneuvering the global crypto regulatory landscape.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            Read more:
        </span>

    
    
        <a href="https://crypto.news/dubai-calls-for-more-collaboration-between-watchdogs-to-combat-scams/" class="cn-block-related-link__link">
            Dubai calls for more collaboration between watchdogs to combat scams         </a>

    
</div>

Gemini chooses Ireland as its hub amid US crypto turbulence

Table of Contents

crypto.news

Other articles published on May 26, 2023

Use Cases of Bitcoin: Beyond Digital Currency

Worldcoin Closes $115 Million Series C Funding Round Led by Blockchain Capital

OkLetsPlay Update: USDT/USD as the primary currency & OKLP as the platform gas token + SWAP & AUT...

Ledger addresses Ledger Recover concerns and accelerates open source initiatives

Trezor T Model Crypto Wallets Hacked in Cybersecurity Breach

The difference between token swap and token immigration

Join our free newsletter for daily crypto updates!