Crypto exile in a nutshell – Speak for crypto success made in USA and regularly the symbol of a desire to comply with the rules, The Winklevoss Brothers by the voice of their crypto platform twin have confirmed their desire to make Dublin a stronghold of development on the old continent. This choice, which was decided almost a year ago, is now motivated by growing regulatory pressure in the United States. Explanations.
Ireland, a gateway to Europe for Gemini
Gemini’s choice for Ireland is not sudden. In fact, the Winklevoss brothers’ crypto platform achieved in July 2022 legislative licenses to practice in Ireland. In fact, the center already has offices on site and a team of 12 employees.
However, twin recently highlighted in the Irish media new reasons motivating the crypto platform to speed up installation in the country. In addition to the crypto regulatory system in Ireland, which is quite favorable for the development of Web 3 companies, the MiCA regulation also attracts the Winklevoss brothers, who describe Ireland as a ” point of entry into the European Union “.
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When America Attacks Its Prodigal Sons
The twins also have to cope with the crypto winter and its chaos part of Genesis’ bankruptcy. Actually Genesis bankruptcy took the service with him Gemini Earnleading to a debt of 630 million dollars which Digital Currency Group – parent company of Genesis – is struggling to repay.
One thing led to itIncidentally, the Security and Exchange Commission decided to attack Gemini in January 2023 about its Earn program, adding to the surrounding hostility towards cryptocurrencies. The financial regulator filed a complaint against Gemini in January 2022 for selling unregistered securities to retail investors under the Earn program.
Would Gemini be on traces of Coinbase to flee the United States ? In any case, the announced advent of the MiCA regulation appears to herald a slightly more accommodating regulatory framework than that currently proposed in the US. Looked after Coinbase which recently indicated moving to BermudaThe Winklevoss brothers’ crypto platform confirms its wishes elsewhere.
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