Crypto exchange Gemini is taking another step in their European plans with a new headquarters in Ireland. The Tyler and Cameron Winklevoss will be headquartered in Europe. They cite the current regulatory climate as a reason to go to Ireland. In the USA, according to the well-known twins, there is too little clarity. They are not leaving the US market.
The decision follows a meeting between the Twins, Irish prime minister Leo Varadkar and representatives of the Industrial Development Agency (IDA), the body responsible for foreign investment in Ireland.
Gemini was the first to be approved as a Virtual Asset Service Provider (VASP) in Ireland in July 2022. The exchange sees the upcoming regulatory framework for the industry in the European Union, known as Markets in Crypto Assets (MiCA), as one of the main reason for making the decision.
Cameron Winklevoss told The Irish Times that Ireland will be the “entry point” to the rest of Europe once MiCA regulations are fully implemented in the EU by 2025.
There are no plans to leave the US altogether. Not least because the United States is still an important sales market: “we do not leave the US, we continue to fight the good fight there. But we also understand that you can vote with your feet, and that is our right and we will do so when faced with a hostile environment,” added Cameron Winklevoss.