Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has selected Malta as its central hub for compliance with the European Union’s Markets in Crypto-Assets (MiCA) framework. This strategic move underscores Gemini’s commitment to enhancing regulatory compliance and expanding its presence in the European market.
In December 2024, Gemini secured a Virtual Financial Assets (VFA) Service Licence from the Malta Financial Services Authority (MFSA), marking a significant step in its European operations. This license enables Gemini to offer its services across the EU, aligning with MiCA’s regulatory standards.
Mark Jennings, Gemini’s Head of Europe, highlighted the importance of establishing a compliant infrastructure to meet MiCA’s requirements. He noted that the primary challenge was allocating resources to build the necessary infrastructure to support MiCA compliance, emphasizing the need for a unified onboarding process that meets regulatory standards.
While Gemini has yet to receive a MiCA license, the exchange holds VASP licenses in six EU countries, including Malta, France, Ireland, Spain, Italy, and Greece. The company is actively working to transition its existing licenses to align with MiCA’s framework, aiming to provide a scalable and compliant solution for its European customers.
