Gemini confirms crypto registration in France
Crypto exchange Gemini is now registered as a cryptocurrency service provider in France. The exchange will offer its services and products to customers in France in the coming weeks. Coinbase recently received VASP approval from the French regulator.
On January 17, the American crypto exchange co-founded by Winklevoss twins Cameron and Tyler announced that it had filed for a Digital Asset Service Provider (DASP) registration with French financial market regulator l'Autorité des Marchés Financiers (AMF).
In the year The exchange, which follows Gemini's announcement of its EU headquarters in Ireland in 2022, will extend crypto products and services to retail and institutional clients across France.
Gemini plans to roll out these services and products in the coming weeks, said Gillian Lynch, Gemini's head of Ireland and EU.
“France is a global leader in innovation and has a vibrant crypto community, as evidenced by the success of Blockchain Week in Paris. We are excited to soon be able to offer compliant and secure financial access to French customers as we continue our mission to unlock the next era of financial, creative and personal freedom.” Lynch added.
Crypto exchanges require prior approval from MiCA
Gemini's registration as a DASP in France sees it join Coinbase, which announced last December that it had received a Virtual Asset Service Provider (VASP) license from France's regulator. Crypto exchange OKX has submitted an application for regulatory approval in the country in May 2023.
The exchange comes as the crypto industry prepares to implement the Markets in Crypto-Assets (MiCA) regulation to secure registration in France.
The European Union's comprehensive crypto regulation rules came into effect last year and are seen as a concrete step to ensure crypto companies comply with compliance requirements, including anti-money laundering (AML). The regulations are intended to strengthen consumer protection while enabling crypto innovation.
