Gemini Awarded Crypto Registration in France

Following the launch of its EU headquarters in Ireland​ last May, cryptocurrency platform Gemini announced on Wednesday that it has been registered as a Digital Asset Service Provider (DASP) by L'Autorité des marchés financiers (AMF), the financial regulator in France, allowing it to provide retail and institutional clients crypto services in the country in the coming weeks, further bolstering its European presence.

Gillian Lynch, Head of Ireland and EU at Gemini, commented: "We are delighted to welcome customers based in France onto the Gemini platform in the coming weeks as we further expand access to crypto across Europe. 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."

Once available in France, customers located in the region will be able to trade 70+ cryptos on Gemini's platform and have access to its ActiveTrader platform as well as Gemini eOTC, an electronic OTC trading solution, the exchange stated.

The French approval comes as major U.S. crypto companies are turning to the European Union to expand their operations, driven in large part by a crypto industry crackdown from U.S. regulators and the EU's increasing regulation of the industry.

The EU last year approved passed a vote to implement the Markets in Crypto-Assets Regulation (MiCA) which was hailed as the most significant crypto-specific regulation in the world to date. By creating a standardised legal framework across the EU, MiCA not only increases the accountability of service providers but also fosters consumer confidence in using and investing in crypto-assets.

The US has recently undergone a shift in its perspective on the crypto industry. Last week, the Securities and Exchange Commission (SEC) gave its stamp of approval to the first-ever Bitcoin ETFs, which may spark intense competition within the market in the country.