In a recent statement, the French financial markets regulator, l’Autorité des Marchés Financiers (AMF), announced the registration of Gemini as a Digital Asset Service Provider (DASP) in France. This registration is a significant milestone for Gemini as it enables the crypto exchange to cater to both retail and institutional customers in the country. Additionally, this regulatory approval grants French users access to Gemini’s comprehensive suite of services, including their website, mobile app, Gemini eOTC, and the ActiveTrader platform. With this development, Gemini aims to provide French customers with compliant and secure access to the future of finance.
Gillian Lynch, Head of Ireland and EU at Gemini, expressed the firm’s excitement about launching its platform in France. Lynch acknowledged France as a global innovation leader with a vibrant crypto community exemplified by the success of Paris Blockchain Week. By expanding into France, Gemini is keen on unlocking the next era of financial, creative, and personal freedom for its customers in the country. This move showcases Gemini’s commitment to international growth and its recognition of the potential within the European market.
Gemini is not the only U.S.-based crypto exchange looking to expand its operations abroad due to regulatory challenges at home. Over the past year, the platform has faced legal challenges from the U.S. Securities and Exchange Commission (SEC) regarding its Earn product, which was classified as a security. Furthermore, Gemini is currently facing a lawsuit from New York authorities for alleged investor fraud related to one of its investment products. To navigate these challenges, Gemini has launched the Gemini Foundation, a non-U.S. derivatives platform, in 30 countries. The exchange is actively considering opening a second headquarters in the United Kingdom to further solidify its presence in the global crypto market.
Gemini’s Global Reach
Gemini operates in over a dozen EU countries and approximately 70 countries worldwide, making it a prominent player in the global crypto exchange landscape. With its registration as a DASP in France, Gemini continues to expand its footprint in Europe and establish itself as a trusted platform for crypto investors. The exchange has demonstrated its commitment to serving customers globally, with more countries on its roadmap for future expansion. As Gemini expands its reach, it aims to offer users around the world compliant and secure access to a diverse range of cryptocurrencies.
Gemini’s reputation and expertise in the crypto industry have led to its involvement in various ventures. Asset manager 7RCC has selected Gemini as the crypto trading platform for its spot Bitcoin exchange-traded fund (ETF) application, highlighting Gemini’s position as a trusted partner for innovative financial products. This partnership further solidifies Gemini’s position as a leading global crypto exchange and demonstrates its ability to attract institutional clients seeking exposure to the cryptocurrency market.
Gemini’s registration as a Digital Asset Service Provider in France marks a significant milestone for the exchange’s expansion into the European market. With its comprehensive suite of services and commitment to compliance and security, Gemini aims to provide French customers with access to the future of finance. As Gemini continues to navigate regulatory challenges and expand its global presence, it strengthens its position as a trusted platform for crypto investors worldwide.
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