- The U.S SEC in January charged Gemini with the sale of unregistered securities.
- Recent events prompted the exchange’s co-founders to begin looking into other jurisdictions.
The Republic of Ireland was recently named the new European headquarters for Gemini, the cryptocurrency exchange controlled by Tyler and Cameron Winklevoss.
The statement came after crypto founders met with Irish Prime Minister Leo Varadkar and officials from the Industrial Development Agency (IDA), the government agency in charge of attracting foreign investment to Ireland.
Common Sense Regulation
On Twitter, Gemini’s CEO Tyler Winklevoss said that yesterday’s talks in Dublin focused on “the profound promise of crypto and the importance of common sense regulation to realize that promise.” The CEO said that Gemini is certain that the European Union’s (EU) new regulatory framework for cryptocurrencies, Markets in Crypto Assets (MiCA), “is that common sense regulation.”
When the Central Bank of Ireland began accepting applications from Virtual Asset Service Providers (VASPs) in July 2022, Gemini was the very first to get approval. Gemini’s president Cameron Winklevoss told The Irish Times that after the MiCA rule is completely implemented throughout the EU by 2025, Ireland would serve as the exchange’s “entry point” into the rest of Europe.
The U.S Securities and Exchange Commission (SEC) in January charged Gemini with the sale of unregistered securities related to the now-terminated Earn program, prompting the exchange’s co-founders to begin looking into other jurisdictions. This came amid a wave of wider crackdowns on cryptocurrency companies in the U.S., which also targeted rival companies Kraken and Coinbase.
The Winklevoss twins met with officials from the Financial Conduct Authority (FCA) and the Bank of England in London earlier this week, raising speculation that the United Kingdom would become the crypto exchange’s new home.
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