Gemini Exchange Secures MiCA License for European Market Expansion
Gemini, owned by Tyler and Cameron Winklevoss, has received a Markets in Crypto Assets (MiCA) license from the Malta Financial Services Authority (MFSA), enabling it to operate across the European Economic Area (EEA).
Key Developments
- The MiCA license allows Gemini to offer services in all 30 EEA countries.
- Mark Jennings, Head of Gemini Europe, considers this a significant step in expanding regulated services.
- This follows another approval for an Investment Firm license under MiFID II obtained in May.
- Gemini recently launched tokenized stocks, aiming to expand its product offerings for retail and institutional clients.
Regulatory Concerns
- There are concerns about the speed of MiCA license approvals, particularly in Malta.
- Some regulators fear inadequate due diligence may lead to risks such as fraud and market instability.
- Recent licenses have been issued to other firms like CoinShares and Coinbase, raising additional scrutiny on the approval process.