Gemini has received approval to operate in France and will launch in a matter of weeks.

Gemini, a cryptocurrency exchange, has obtained approval from the French financial markets regulator, allowing it to operate in more than a dozen European countries.

Gemini Receives Approval to Operate in France, Expanding its Presence in Europe 🇫🇷

Cryptocurrency exchange Gemini has been granted regulatory approval to operate in France as a digital asset services provider (DASP). This exciting development brings Gemini’s presence in European jurisdictions to “over a dozen,” according to the company’s announcement on January 17. Gemini will soon offer its services in the country, making more than 70 cryptocurrencies available for both institutional and retail traders. In addition, institutional traders will have access to Gemini eOTC, an electronic over-the-counter trading platform.

Gemini’s head of the European Union and Ireland, Gillian Lynch, expressed her enthusiasm about entering the French market, stating:

“France is a global innovation leader and has a vibrant crypto community as showcased by the success of Paris Blockchain Week. We are excited to soon be able to provide French customers with compliant and secure access to the future of finance.”

The French financial markets regulator, Autorité des marchés financiers (AMF), granted registration to Gemini and crypto exchange OKX PSAN (DASP) simultaneously last December. Gemini became the 105th registrant of the AMF. It’s important to note that licensing from the AMF is not mandatory but rather an optional step. Only Forge, a subsidiary of French bank Société Générale, currently holds a PSAN license, making Gemini the second company to receive this license.

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Gemini established its European office in Ireland in May, expanding its services to cater to the European market. The exchange’s entry into France further solidifies its presence in Europe and demonstrates its commitment to serving customers across the continent.

Q&A Content:

Q: What cryptocurrencies will be available on Gemini’s platform in France?

Gemini will make over 70 cryptocurrencies available to traders in France, both institutional and retail.

Q: What is Gemini eOTC?

Gemini eOTC is an electronic over-the-counter trading platform offered by Gemini. It provides institutional traders with convenient access to trade digital assets.

Q: Is licensing from the AMF mandatory for digital asset service providers?

Licensing from the AMF is an optional step for digital asset service providers. It is not required but can provide additional credibility and regulatory compliance.

Q: Which other companies have received registration from the AMF?

Coinbase, Circle, and Dutch Bitvavo are among the companies that have received registration from the AMF to operate as digital asset service providers in France.

Related: Silicon Valley-based tech accelerator expands its digital asset vertical to France

It’s important to note that Gemini is currently facing a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). The New York Attorney General’s office has also taken legal action against Gemini. These lawsuits are related to Gemini’s Earn program, which was operated in partnership with Genesis, an affiliate of the Digital Currency Group (DCG). This legal conflict has also involved Genesis and DCG.

Despite the legal challenges, Gemini’s expansion into France showcases the exchange’s determination to provide compliant and secure access to the future of finance. Gemini’s entrance into France aligns with the country’s reputation as a global innovation leader and its vibrant crypto community exemplified by the successful Paris Blockchain Week.

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In conclusion, Gemini’s approval to operate in France adds another key jurisdiction to its European presence. With its wide range of cryptocurrencies and eOTC trading platform, Gemini aims to provide French customers with a secure and compliant gateway to the world of digital finance.

Reference List:

1. Gemini’s Announcement
2. French Media’s Report
3. AMF Website
4. Gemini’s Twitter
5. Information on the Lawsuits
6. Magazine: Bitcoin in Senegal

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