Gemini French VASP Registration Now Completed To Expand Exchange Services

January 17, 2024 - Around 2 mins mins to read

Key Points:

Gemini, the Winklevoss twins’ crypto exchange, is now licensed by the French AMF to operate in France.
French users can soon trade 70+ cryptocurrencies on Gemini’s platform.
The Gemini French VASP registration aligns with the trend of U.S. crypto firms seeking growth in the EU amid regulatory challenges at home.

The Gemini cryptocurrency exchange, founded by the Winklevoss twin brothers, has received approval from the French Authority for Financial Markets (AMF) to operate as a virtual asset services provider (VASP) in France.

Gemini French VASP Registration Now Completed To Expand Exchange Services

Gemini French VASP Registration Gets Green Light for Expansion

Gemini French VASP registration marks a significant milestone for the exchange, enabling it to extend its services to individual and institutional clients within the country.

Gemini plans to gradually introduce its suite of products to the French market over the next few weeks. Following the “final preparations,” users in France will gain access to trade over 70 cryptocurrencies on the Gemini website and mobile applications. The offerings also include access to the ActiveTrader platform and Over-The-Counter (OTC) trading solutions.

Having previously registered as a Digital Asset Service Provider (DASP) with the AMF, Gemini has expanded its operations across the European Union. The company’s EU headquarters, established in Ireland in 2022, laid the groundwork for its presence in over a dozen EU countries and more than 70 countries globally, with additional countries in its expansion roadmap.

The Gemini French VASP registration aligns with a broader trend of U.S. cryptocurrency firms seeking opportunities in the European Union amid increased regulatory scrutiny at home.

Notably, the Securities and Exchange Commission (SEC) charged Gemini and crypto lender Genesis last year for allegedly selling unregistered securities related to Gemini Earn, a high-yield savings product. Gemini vehemently denies the characterization of its interest-bearing products as securities and is actively contesting the legal action.

As Gemini continues to navigate regulatory landscapes, the French approval positions the exchange to cater to the growing demand for cryptocurrency services in the hexagonal country and underscores its commitment to expanding its global footprint.

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