Crypto Exchange Gemini Selects Ireland for Its European Headquarters

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October 23, 2023 06:37 EDT

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Crypto exchange Gemini will have a second home in Ireland after co-founder Cameron Winklevoss announced it would make Ireland its European headquarters.

Gemini, which is run by both Cameron Winklevoss and his twin Tyler, is based in New York. 

Cameron Winklevoss tweeted on Thursday that he met with Ireland Prime Minister Leo Varadkar about “the profound promise of crypto and the importance of common sense regulation to realize that promise,” while also touting Markets in Crypto-Assets regulation, which will be set forth next year. 

“We also announced that @Gemini has made Ireland its European HQ. Onward!,” Cameron Winklevoss tweeted. 

Awesome meeting this morning with @LeoVaradkar, the Prime Minister of Ireland. We talked about the profound promise of crypto and the importance of common sense regulation to realize that promise. We believe MiCA is that common sense regulation. We also announced that @Gemini has… pic.twitter.com/Iv3NmPTmju

— Cameron Winklevoss (@cameron) May 25, 2023

Varadkar also took to Twitter, and said Gemini was the first firm registered by the Central Bank of Ireland as a “virtual asset service provider,” or VASP. 

“Gemini’s decision to locate in Ireland highlights our competitive offering for the international financial services sector,” Varadkar said. 

Gemini's decision to locate in Ireland highlights our competitive offering for the international financial services sector. We take pride in how it has grown from 60 staff in Dublin 30 years ago, to approximately 56,000 people around the country working in finance today.

— Leo Varadkar (@LeoVaradkar) May 25, 2023

The European Council adopted MiCA earlier this month, which would require firms that want to issue, trade, and safeguard crypto assets, tokenized assets, and stablecoins in the 27-country bloc to obtain a license.

Gemini got its VASP license in July 2022, according to a statement.

“Gemini was founded on the ethos of asking for permission, not forgiveness. Since day one, Gemini has engaged with regulators around the world to help shape thoughtful regulation that both protects consumers and fosters innovation,” said GIllian Lynch, Gemini’s head of Ireland and the EU said last year. 

Back at home

The US Securities and Exchange Commission charged both Gemini and bankrupt crypto lender Genesis, earlier this year with the unregistered offering and sale of securities to retail investors in the US.

At the time, Gemini’s Tyler Winklevoss called the SEC’s move “disappointing.”

“It’s disappointing that the @SECGov chose to file an action today as @Gemini and other creditors are working hard together to recover funds,” he tweeted.