Gemini, a cryptocurrency exchange, has opened a second office in Dublin, Ireland. The permission was issued to the company by the Central Bank of the territory.
Cameron and Tyler Winklevoss, founders of the platform, discussed with Prime Minister Leo Varadkar why they decided this jurisdiction was right for them. They mentioned its strong regulatory framework, large talent pool and developed technology sector.
"We were looking at different parts of Europe as possible places to enter the market, and we felt comfortable with Ireland and its regulators, so it seemed a natural choice," Gemini said.
Gemini expects a "Cambrian explosion of innovation" to occur in Europe as a result of the approval of the MICA bill proposing comprehensive regulation of the crypto-asset industry.
Gemini's expansion was prompted by an escalating regulatory environment in the US. Last June, the US Commodity Futures Trading Commission filed a lawsuit against Gemini for allegedly falsifying information about bitcoin futures contracts.
In January, the US Securities and Exchange Commission accused Gemini of trading in unregistered securities.
In the spring, Gemini announced plans to set up an office in India as part of its push into the Asia-Pacific region. At the same time, the brothers mentioned that they were considering making the UK their second headquarters.
In April, Cameron Winklevoss criticised US regulators for having different criteria during the First Republic Bank crisis.
