Gemini Chooses Malta As European Hub To Get Ready For MiCA Compliance

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is solidifying its commitment to European regulations by establishing a dedicated hub in Malta. 

The move is a key step in ensuring compliance with the European Union’s newly implemented Markets in Crypto-Assets (MiCA) framework. 

Malta’s Role as a Crypto Hub

Gemini’s decision to choose Malta aligns with the country’s proactive approach to fostering innovation within the fintech and digital asset sectors, making it an ideal environment for the exchange to expand its operations in Europe.

The announcement, made on January 20, follows Gemini’s receipt of its sixth European virtual asset service provider (VASP) registration from the Malta Financial Services Authority (MFSA) in December 2024. 

The regulatory clarity and support offered by Malta make it a natural choice for Gemini as it looks to drive its European operations. Malta has long positioned itself as a crypto-friendly jurisdiction, emphasizing its willingness to support the growing digital asset ecosystem. 

This environment of innovation and flexibility is crucial for Gemini, which plans to operate under the full implementation of MiCA regulations by the end of 2024.

Crypto Exchanges Eye Malta

Many cryptocurrency exchanges are eyeing Malta for similar reasons. The country has been a pioneer in establishing regulatory frameworks that embrace the potential of blockchain and cryptocurrencies. 

Also Read: Binance Updates Cryptocurrency Procedures In Poland To Comply With EU MiCA Regulations

Its legislation is designed to create a secure and well-regulated space for crypto businesses to thrive. With major exchanges like Crypto.com also receiving in-principle approval for a MiCA license, Malta is quickly becoming the go-to destination for crypto companies looking to establish a compliant European presence. 

The island nation’s swift action to adapt to the needs of the cryptocurrency industry has positioned it as a leader in crypto regulation within the EU.

MiCA: A Game-Changer for the EU Crypto Landscape

The MiCA regulation is considered a game-changer for the European crypto industry. Implemented in phases throughout 2024, MiCA aims to standardize and regulate the crypto market across the European Union. 

The regulations provide clear guidelines for stablecoins, broader crypto transactions, and digital assets, ensuring a more secure environment for both businesses and consumers. For exchanges like Gemini, MiCA brings much-needed regulatory clarity, fostering an atmosphere of trust and stability. 

Mark Jennings, Gemini’s Head of Europe, highlighted the importance of MiCA for the European crypto community. He stressed that the regulations represent a significant step in making the crypto market safer and more transparent for all stakeholders. 

While Gemini’s Malta hub is yet to secure a MiCA license, the exchange plans to transition its existing VASP licenses into MiCA-compliant registrations. This approach ensures that Gemini remains in line with evolving regulations while continuing to offer services across Europe.

Gemini currently holds VASP licenses in six EU countries namely, Malta, France, Ireland, Spain, Italy, and Greece. In November 2024, the exchange launched its crypto asset services in France after receiving the French VASP license. 

Gemini’s decision to base its operations in Malta marks a strategic alignment with the country’s forward-thinking approach to digital assets and paves the way for future expansion across the continent.

Also Read: Four Companies Including MoonPay Secure MiCA Licenses In The Netherlands