Summary
- It was reported that Gemini has accelerated entry into the European market by securing the MiCA license.
- It was announced that this approval enables the provision of cryptocurrency trading and tokenized asset services within the EU.
- Industry insiders evaluated that, after overcoming regulatory hurdles, Gemini is highly likely to become a key player in the European digital asset ecosystem.
Global virtual asset (cryptocurrency) exchange Gemini has acquired an additional regulatory license to expand its presence in the European market.
According to CoinGabber, a media outlet specializing in virtual assets (cryptocurrencies), on the 22nd (local time), the Malta Financial Services Authority (MFSA) issued Gemini a license under the MiCA regulation. With this, Gemini has established a foundation to provide cryptocurrency trading and tokenized asset-related services within the European Union (EU).
Previously, in May, Gemini had obtained approval under MiFID II, which qualified the exchange to offer derivatives in the European market. With the acquisition of the MiCA license, the expansion of local services is expected to accelerate.
The report stated, "With this approval, Gemini has not just overcome regulatory hurdles but has also greatly increased its potential to become a key player in the European digital asset ecosystem."
Meanwhile, the MiCA regulation is the world's first comprehensive law on virtual assets established by the European Union (EU), and it is binding across all 27 EU member states.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Today’s Key Economic & Crypto Calendar] Atlanta Fed GDPNow, More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
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