Gemini Gains Regulatory Green Light in Europe
The cryptocurrency exchange Gemini, run by Cameron Winklevoss and Tyler Winklevoss, was granted a major regulatory win in Europe. The exchange obtained a MiCA license from the Malta Financial Services Authority (MFSA) and this makes it one of only five firms in the EU to get this approval.
Gemini has been granted a license to strengthen its crypto offering. Amid a tightening of laws on the industry, it will expand its secure offering across 30 markets in Europe. This will further solidify its compliance.
“It is a significant step in our journey of expansion in Europe;” said Gemini in a statement. Cryptocurrency can only reach global usage if it is properly regulated, and Europe is turning out to be one of the most intricate courses.
Momentum Builds After Nasdaq Filing
The approval from the regulators came just days after Gemini filed to list its Class A common stock on Nasdaq Global Select Market under the ticker GEMI. Gemini’s announcement of sales at Euronext and Cboe Global Markets highlights the strategy of establishing a presence in Euronext and gaining visibility at the Cboe to expand aggressively in Europe and gain visibility in traditional U.S. markets respectively.
Gemini stated that the MiCA is exactly what the industry needs to be compliant, transparent, and keep the investors safe.
Gemini has faith in Europe’s innovative appeal by way of tokenized stocks.
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Gemini Expands With Tokenized Stocks
Gemini isn’t stopping with licensing. In late June, the exchange introduced tokenized stock trading on Arbitrum, which allows investors to trade MicroStrategy (MSTR) stocks any time of the day.
This act places Roblox alongside competition like Kraken and Robinhood. The cryptocurrency exchanges Kraken and Robinhood are racing to attack the appetite of European investors for tokenized equities.
According to the MiFID II framework of the EU, these assets are treated as regulated financial instruments which enhance innovation and regulatory safeguards for users.
Licensed Crypto Companies: Malta’s Newest Hub
Gemini is one of the first five crypto-asset service providers (CASPs) approved under MiCA in Malta, along with Bitpanda, Crypto.com, OKX, and ZBX.
The European Securities and Markets Authority (ESMA), the regulator of EU financial markets, has raised concerns about the MFSA authorisation processes. Nevertheless, the MFSA insists that all its licenses remain valid and compliant with EU standards. Gemini can expand under Europe’s most extensive crypto rulebook in internal regulations.
The Bigger Picture
Gemini’s MiCA license is not just a regulatory win, it is a turning point for crypto adoption in Europe. By seeking clarity on regulation, tokenized stocks, and public listing, Gemini is on a path towards being an exchange that combines elements of traditional finance with digital assets in a crucial market.
Takeaway statement: Gemini no longer considers itself a crypto company, but is building the playbook for regulated digital finance.
