Gemini Crypto Exchange obtained initial endorsement from the Malta Financial Services Authority for its expansion into the European market.
Mark Jennings who heads Gemini’s European operations made the announcement through a blog post on 11.Feb .The Investment Firm license in development at Gemini enables the company to deliver regulated futures and options across both the European Union (EU) and European Economic Area (EEA) territories upon final authorization.
The license operates under the Markets in Financial Instruments Directive (MiFID II) which functions as a principal regulatory system for financial investment services throughout the EU.
Gemini Moves Toward MiCA Compliance
Gemini joins many cryptocurrency platforms that receive regulatory clearances under the Markets in Crypto Assets (MiCA) rules which establish uniform regulations throughout the EU.
The major crypto firms Crypto.com and Bitpanda both obtained MiCA licenses after receiving regulatory approvals from Malta and Germany respectively.
Alongside Gemini OKX and Circle and Bullish Group and Boerse Stuttgart Digital have received authorization under the MiCA rules.
Gemini moves towards this compliant group of firms through its in-principle approval to strengthen its regulatory compliance dedication.
The exchange recognized Malta as its MiCA application country and EU hub after it designated the location for its strategic expansion.
Given the rising speculation Gemini remains under scrutiny regarding its upcoming initial public offering (IPO). Not confirming or ruling out a final decision the exchange shows indications that its market leadership might lead to an IPO.
Gemini advances toward expanded regulatory options across Europe since the approval process began which secures its foundation in the evolving crypto market in the area.
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