Gemini, a cryptocurrency exchange, has become a registered digital asset service provider in France. The company shared that, after establishing its EU headquarters in Ireland in 2022.
Gemini is now up and running in over a dozen EU countries and across 70 countries globally, with plans to expand into more countries in the future. This expansion marks another step in Gemini’s efforts to broaden its reach and services worldwide.
Gemini Expands Reach with French Registration
Crypto exchange Gemini has achieved registration as a Digital Asset Service Provider (DASP) by Autorité des marchés financiers (AMF), the financial markets regulator in France. Following the establishment of its EU headquarters in Ireland in 2022, Gemini has extended its operations to over a dozen EU countries and more than 70 countries globally, with plans for further expansion.
With this recent French DASP registration, Gemini intends to make its products accessible to both retail and institutional users across France in the coming weeks. Gillian Lynch, Gemini’s head of Ireland and the EU, expressed enthusiasm, stating, “We are delighted to welcome customers based in France onto the Gemini platform in the coming weeks as we further expand access to crypto across Europe.” This move aligns with Gemini’s ongoing efforts to provide broader access to its crypto services on a global scale.
MiCA Regulation Impact on Crypto in the EU
In April of the previous year, European Union (EU) lawmakers made a significant decision by voting in favor of implementing the Markets in Crypto-Assets Regulation (MiCA). Gemini, a cryptocurrency exchange, highlighted that MiCA’s implementation establishes a standardized legal framework throughout the EU. This not only enhances the accountability of service providers but also instills confidence among consumers when using and investing in crypto-assets.
Gemini further explained that the harmonization brought about by MiCA simplifies access to cross-border services, ultimately ensuring that consumers in the EU can engage in a diverse and competitive crypto market.
A survey conducted by Autorité des marchés financiers (AMF), the French financial markets regulator, in November of the same year, unveiled interesting insights. The survey indicated that 9% of the French population holds individual crypto assets, surpassing the ownership rate of listed shares at 7%, as estimated by the Kantar Institute in March 2023.
Notably, new investors were found to invest less frequently in the stock market compared to traditional investors, showing a growing interest in crypto assets among this demographic. This data underscores the evolving landscape of financial preferences and the increasing significance of crypto assets in the French market.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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