Gemini says they are pleased to announce that they’ve been registered as a Digital Asset Service Provider (DASP) by l’Autorité des Marchés Financiers (AMF), the French financial markets regulator.
Following the launch of their EU headquarters in Ireland in 2022, Gemini is now “operational in more than a dozen EU countries and more than 70 countries worldwide, with more countries on the roadmap.”
With a French DASP registration, Gemini products will “be available to retail and institutional users across France in the coming weeks as we complete final preparations to open up access to the Gemini platform in France.”
Once available in France, customers located there will be “able to seamlessly trade over 70 cryptos on the Gemini website and mobile app and have access to our high-performance ActiveTrader platform.”
Institutional customers will also be able “to access Gemini eOTC, their electronic over-the-counter trading solution, which offers fully-automated crypto trading with deep liquidity and delayed settlement.”
Gillian Lynch, Gemini’s Head of Ireland and EU, said:
“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.”
As they wrote about recently in our 2024 Crypto Trend Report blog “on regulation, they believe that regulation is necessary to further cultivate innovation in the crypto industry in a way that best protects consumers, while attracting greater retail and institutional investment as well as broader adoption.”
The European Union stands out “both for its influence in traditional global markets and the quality and thoughtfulness of its approach to crypto regulation, now positioning itself as a leading global jurisdiction for promoting innovation within a robust regulatory structure.”
In April 2023, EU lawmakers 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. This harmonization also facilitates easier access to cross-border services, ensuring EU consumers benefit from a diverse and competitive market.”