<p class="is-style-lead">Crypto exchange Gemini, owned by the Winklevoss twins, has announced its plans to acquire a crypto service license for customers in the United Arab Emirates (UAE).</p>



<p>The <a href="https://www.gemini.com/blog/gemini-announces-plans-for-uae-crypto-license" target="_blank" rel="noopener">move</a> comes as Gemini recognizes UAE citizens&#8217; growing interest in cryptocurrencies and engages in positive discussions with regulators.</p>



<p>According to Gemini&#8217;s co-CEOs, Cameron and Tyler Winklevoss, the decision to expand into the UAE was further motivated by the perceived &#8220;hostility and lack of clarity&#8221; surrounding crypto regulation in the United States.</p>



<p>In an <a href="https://www.thenationalnews.com/business/winklevoss-twins-do-not-fear-cryptocurrency-regulation-1.702701" target="_blank" rel="noopener">interview </a>with Abu Dhabi-based news outlet The National, Tyler Winklevoss stated that there is a concerted effort to establish the UAE as a crypto home and hub. The focus is on implementing well-thought-out regulations that protect consumers while fostering innovation within companies.</p>



<p>While Gemini has yet to decide on a specific location for its headquarters in the UAE, both Abu Dhabi and Dubai have been considered as potential options.</p>



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<p>The company&#8217;s recent establishment of a <a href="https://crypto.news/gemini-launches-non-us-crypto-derivatives-platform-amidst-regulatory-crackdown/">non-US crypto derivatives platform</a>, coupled with its plans for <a href="https://crypto.news/gemini-expands-beyond-us-market-with-new-derivatives-platform/">expansion in Asia</a>, reflects its commitment to seeking opportunities outside the US amid increasing regulatory pressures from the Securities and Exchange Commission (SEC).</p>



<p>The exchange is also embroiled in an <a href="https://crypto.news/gemini-challenges-sec-in-legal-battle-over-earn-product/">ongoing legal dispute </a>related to the bankruptcy of Genesis Global Capital, a crypto lender. As a result, over 200,000 users of Gemini&#8217;s Earn program have their funds locked up due to a service arrangement between the two companies.</p>



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<p>In a separate development, crypto exchange <a href="https://crypto.com/company-news/crypto-com-obtains-major-payment-institution-licence-from-monetary-authority-of-singapore" target="_blank" rel="noopener">Crypto.com</a> announced the finalization of its license from the Monetary Authority of Singapore (MAS) a year after receiving initial approval in principle.</p>



<p>As the regulatory landscape evolves, multiple crypto exchanges and related businesses seek new jurisdictions to establish operations and serve a broader customer base.</p>



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Crypto exchange Gemini announces expansion into UAE market

crypto.news

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