Crypto exchange Gemini is now registered as a cryptocurrency services provider in France.
The exchange will offer its services and products to customers in France in coming weeks.
Coinbase also recently received a VASP license from the French regulator.
On January 17, the US-based crypto exchange co-founded by the Winklevoss twins Cameron and Tyler, announced it had secured the Digital Asset Service Provider (DASP) registration from French financial markets regulator l’Autorité des Marchés Financiers (AMF).
The milestone, which follows Gemini’s unveiling of its EU headquarters in Ireland in 2022, will see the exchange extend its crypto products and services to retail and institutional customers across France.
Gemini plans to begin offering these services and products in coming weeks, Gillian Lynch, Gemini’s Head of Ireland and EU, said.
“France is a global innovation leader and has a vibrant crypto community as showcased by the success of Paris Blockchain Week. We are excited to soon be able to provide French customers with compliant and secure access to the future of finance as we continue on our mission to unlock the next era of financial, creative, and personal freedom,” Lynch added.
Crypto exchanges seek licenses ahead of MiCA
Gemini’s registration as a DASP in France sees it join Coinbase, which announced it had secured a Virtual Assets Service Provider (VASP) license from the French regulator last December. Crypto exchange OKX also revealed an application for regulatory approval in the country in May 2023.
The exchanges’ quest to secure registration in France comes as the crypto industry prepares for the implementation of the Markets in Crypto-Assets (MiCA) regulation.
The EU’s comprehensive crypto regulation rules came into effect last year and are seen as a concrete step towards ensuring crypto companies adhere to compliance requirements, including around anti-money laundering (AML). The rules are also meant to bolster consumer protection while enabling crypto innovation.
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