Gemini's Strategic Expansion into France Bolstered by Regulatory Clarity
by aria-crypto.com
November 19, 2024 at 14:34
Gemini's Strategic Expansion into France Bolstered by Regulatory Clarity
Gemini, a prominent US-based cryptocurrency exchange led by the Winklevoss twins, recently obtained a Virtual Asset Service Provider (VASP) license, marking its expansion into the French market. This development introduces Gemini as a significant contender within the European Union's crypto sector, particularly under the Markets for Crypto Assets (MiCA) regulatory framework. The decision to penetrate the French market was significantly influenced by France's forward-looking regulatory environment and its growing acceptance of cryptocurrencies. Gemini operates in over 70 countries, with France's supportive digital asset policies playing a crucial role in its latest venture. Gillian Lynch, the CEO of Gemini UK and Europe, expressed optimism about the French market due to its proactive support for the crypto industry. France's increasing cryptocurrency ownership, which rose to 18% from 16% in 2022, signals a rising confidence in the sector. The country's VASP regulations and ongoing MiCA reforms are set to enhance its position as a leading crypto hub. Gemini highlights that France's regulatory clarity not only offers consumer protection but also encourages innovation, attracting more crypto businesses to the region.
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