Crypto Exchange Gemini Starts Up in France With EU’s MiCA Laws Weeks From Kicking In

Election 2024 coverage presented by
Gemini crypto exchange opened up to users in France just weeks before the European Union’s Markets in Crypto Assets (MiCA) regulations kick in, paving the way for an expansion across the 27-nation trading bloc.
Users, including institutions, in the EU’s second-largest economy are now able to open a Gemini account to deposit, trade and store digital assets, the New York-based company founded by Cameron and Tyler Winklevoss said Tuesday. They will be able to add funds using debit cards and bank transfers.
The move paves the way for growth in other EU countries after MiCA takes full effect at the end of the year. (Rules relating to stablecoin issues came into force in June.) Next year, companies with MiCA approval in one country will be allowed to operate across the bloc. While they’re waiting for approval, companies registered in an EU member country will be able to operate in the country of registration for a specified period of time. For France-registered firms, that’s 18 months.
“Gemini’s research into the French market shows its growing interest in digital assets, and a robust regulatory framework presents a unique opportunity to introduce our platform to the trading community and extend our presence in the European market over the coming months,” Gillian Lynch, Gemini’s CEO of U.K. and Europe, said in a statement.
The company’s affiliate, Gemini Intergalactic Europe, secured digital asset service provider registration in France in December. It is also registered with the central bank of Ireland.
Read more: France Opens for MiCA Applications, First Among Biggest EU Economies
Edited by Sheldon Reback.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.