Crypto exile in a nutshell – Crypto success numbers made in USES and regularly the symbol of a desire to comply with regulation, the Winklevoss brothers by the voice of their crypto platform Gemini have confirmed their desire to make Dublin a stronghold for development on the old continent. This choice, decided almost a year ago, is now motivated by growing regulatory pressure in the United States. Explanations.
Ireland, a gateway to Europe for Gemini
Gemini’s picks for Ireland aren’t sudden. Indeed, in July 2022 the crypto platform of the Winklevoss brothers will obtain regulatory authorizations to practice in Ireland. In fact, therefore, the exchange already benefits from on-site offices and a team of 12 employees.
Regardless, Gemini recently highlighted in the Irish media new reasons that motivate the crypto platform to accelerate its installation in the country. Beyond the crypto regulatory system in Ireland, which is rather favorable to the development of Web 3 companies, the MiCA regulation also holds the Winklevoss brothers, describing Ireland as a “ point of entry into the European Union “.
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When the USA attacks its prodigal children
Gemini must also weather the crypto winter and its havoc in the Genesis bankruptcy framework. Indeed, the Genesis Failure import with service Gemini Winresulting in a debt of $630 million, which Group of digital currencies – parent company of Genesis – struggling to repay.
Chose by trainAnother from the Security and Exchange Commission decided to attack Gemini in January 2023 concerning its Earn program, also contributing to the ambient hostility against cryptocurrencies. The financial regulator will file a case against Gemini in January 2022 for the sale of securities to non-registered retail investors under the Earn program.
Would Gemini be on the Coinbase traces for USA ? The announced advent of the MiCA regulation seems in any case to herald a slightly more welcoming regulatory framework than currently offered in the United States. So after Coinbase which recently indicated moving to Bermudathe Winklevoss brothers’ crypto platform confirms its shipments from elsewhere.
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