Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has announced Malta as its hub for compliance with the European Union's Markets in Crypto-Assets (MiCA) framework. The decision follows Gemini's receipt of its sixth European virtual asset service provider (VASP) registration from the Malta Financial Services Authority in December 2024. Mark Jennings, Gemini’s head of Europe, emphasized that the main challenge in achieving MiCA compliance was the allocation of resources to establish the necessary infrastructure. Although Gemini has established its European hub, it has not yet received a MiCA license. To obtain this license, the exchange must either file for a new application or transition from existing VASP licenses. Currently, Gemini holds VASP licenses in Malta and five other EU countries, supporting its operations across Europe. Jennings views the challenges presented by MiCA as opportunities to build compliant customer onboarding processes and custody offerings, essential for meeting regulatory standards.

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