Cryptocurrency exchange Gemini has significantly bolstered its European market presence by securing a Markets in Crypto-Assets (MiCA) regulation license from the Malta Financial Services Authority (MFSA). This strategic authorization, complementing its existing MiFID II license in the jurisdiction, positions Gemini to offer a comprehensive suite of virtual asset services, including derivatives, across over 30 European countries. The move marks a pivotal step in Gemini’s global expansion and adherence to evolving regulatory standards within the bloc.
- Gemini has obtained a MiCA license from the Malta Financial Services Authority (MFSA).
- This authorization significantly enhances its European market presence.
- It complements Gemini’s existing MiFID II license in the same jurisdiction.
- The license enables Gemini to offer a comprehensive suite of virtual asset services, including derivatives.
- These services will be available across more than 30 European countries.
- The move is a key part of Gemini’s global expansion and commitment to regulatory compliance.
The MiCA Framework and Regulatory Commitment
The MiCA framework, ratified by the Council of the European Union in June 2023, establishes a unified regulatory landscape for crypto-assets across the EU. Gemini’s dual licensing under MiCA and MiFID II underscores its commitment to robust compliance, which the company views as foundational for industry growth and widespread cryptocurrency adoption. In a company statement, Gemini highlighted MiCA’s role in affirming Europe as a leader in developing innovative and progressive regulatory approaches, crucial for fostering trust and attracting institutional investment into the digital asset space.
Market Expansion and Future Outlook
Leveraging its enhanced regulatory standing, Gemini recently introduced tokenized equities on the Arbitrum blockchain for European users. These assets facilitate 24/7 trading of traditional stocks, enhancing market flexibility and accessibility compared to conventional market hours. This initiative reflects a broader industry trend, with other major exchanges such as Bitvavo, Kraken, Bybit, and Coinbase also securing MiCA-compliant licenses, signifying a widespread embrace of the new regulatory environment across the continent. The phased implementation of MiCA continues, with full adaptation expected by year-end 2024, as the European market solidifies its regulatory framework, potentially paving the way for further corporate milestones, including Gemini’s reported plans for an initial public offering (IPO).
Maxwell Reed is the first editor of Cryptovista360. He loves technology and finance, which led him to crypto. With a background in computer science and journalism, he simplifies digital currency complexities with storytelling and humor. Maxwell began following crypto early, staying updated with blockchain trends. He enjoys coffee, exploring tech, and discussing finance’s future. His motto: “Stay curious and keep learning.” Enjoy the journey with us!