Gemini obtains MiCA license in Malta, boosting European crypto operations.
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Gemini Expands European Footprint with MiCA License in Malta
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has taken a significant step in its European expansion strategy by securing a Markets in Crypto-Assets Regulation (MiCA) license in Malta. This development underscores Gemini’s commitment to broadening its reach across Europe and enhancing its regulatory compliance.
Related: Ripple Seeks MiCA License for EU Crypto Expansion
Strategic Expansion in Europe
The Malta Financial Services Authority (MFSA) granted the MiCA license, allowing Gemini to offer its secure and reliable crypto products to customers in over 30 European countries. This move aligns with Gemini’s broader strategy to cement its presence in Europe, a region recognized for its progressive regulatory framework. In a statement, Gemini emphasized the importance of clear regulations like MiCA in fostering global crypto adoption.
Related: EU’s MiCA Regulation Fuels Blockchain Innovation in Ireland and Euro Stablecoin Adoption
Regulatory Milestones and Market Offerings
This regulatory milestone follows Gemini’s recent filing to list its Class A common stock on the Nasdaq Global Select Market under the ticker GEMI. Additionally, Gemini holds a Markets in Financial Instruments Directive (MiFID II) license, enabling it to offer crypto derivatives in the European market. The exchange has also introduced tokenized stocks on the Arbitrum blockchain, providing European customers with 24/7 trading access to tokenized shares of companies, further diversifying its offerings.
Malta: A Hub for Crypto Regulation
Related: Bitget to Focus on MiCA Compliance as it Establishes a New Hub in Europe
Malta has become a pivotal location for crypto regulation within the EU, having issued five MiCA licenses to date. Alongside Gemini, other notable recipients include Bitpanda, Crypto.com, OKX, and ZBX. The MFSA’s rigorous licensing process has been under scrutiny by the European Securities and Markets Authority (ESMA) to ensure compliance with EU standards. However, the MFSA confirmed that all MiCA licenses remain secure, following a peer review by ESMA.
For more detailed insights into the MiCA framework and its impact on the European crypto landscape, visit the Malta Financial Services Authority and the Cointelegraph’s guide on MiCA. For updates on Gemini’s Nasdaq listing, refer to their official announcement.
Michael has been a vital voice in crypto security, focusing on blockchain vulnerabilities and emerging technologies. With a background in cybersecurity and fintech, he ensures our readers stay informed on safeguarding their assets while exploring new opportunities in the crypto space.
