The Gemini exchange, founded by the Winklevoss twins, has chosen Malta as its primary European hub in compliance with MiCA requirements. This decision highlights the company's commitment to regulatory standards.
VFA Class 3 License for Gemini
Gemini received its sixth European license from the Malta Financial Services Authority (MFSA) back in December 2024. The class 3 license allows the exchange to provide six services, including transfer and custody services, within Maltese crypto regulations.
Malta as MiCA Hub Choice
The decision to place the European hub in Malta over Dublin was driven by the country's proactive approach to crypto regulation. Mark Jennings, head of Europe at Gemini, noted that MiCA is set to become a blueprint for global cryptoregulations and opens new opportunities for the exchange in the European market.
Impact of MiCA on Crypto Industry
MiCA introduces clarity in custodial services requirements despite some uncertainties regarding stablecoins. Jennings noted that creating infrastructure for MiCA compliance is both a challenge and an opportunity for expanding globally compliant custody offerings.
The choice of Malta as the European hub underscores Gemini's commitment to meeting new European regulatory standards, contributing to a more transparent and resilient crypto environment.
