30s Summary

Cryptocurrency exchange Gemini has launched its trading services in France ahead of the European Union’s upcoming Markets in Crypto Assets (MiCA) regulations. The move follows research by Gemini into France’s growing interest in crypto assets and the country’s solid regulatory framework. Gemini Intergalactic Europe, an affiliate, secured registration as a digital asset service provider in France in December, and is registered with the central bank of Ireland. The company plans to increase its presence in both markets.

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Gemini, the crypto exchange, is now operating in France. This allows users in France to open a Gemini account to deposit, trade, and store digital assets. The option to add funds using debit cards and bank transfers is also available. This move has happened just a few weeks before the Markets in Crypto Assets (MiCA) regulations of the European Union (EU) come into effect.

Once these regulations kick off completely later this year, companies in the EU can grow more easily in the member countries. According to these rules, any company approved in one EU country under MiCA can operate across the EU. Companies that are still waiting for approval can also keep operating in the country where they are already registered for a certain period. For firms in France, this period is 18 months.

Gemini’s venture into France is a result of their research showing that the French market has a growing interest in digital assets. Moreover, the strong regulatory framework in France presents a good chance to introduce their platform to the French trading community. They are also planning to increase their presence in the European market over time, according to Gillian Lynch, Gemini’s CEO of U.K. and Europe.

Gemini’s affiliate, Gemini Intergalactic Europe, had secured digital asset service provider registration in France in December and it is likewise registered with the central bank of Ireland.