Gemini, the US-based cryptocurrency exchange founded by Cameron and Tyler Winklevoss, announced that it has entered the French market after being registered as a Virtual Asset Service Provider (VASP).
Gemini Expands to France After Receiving VASP License
This expansion positions Gemini as a key player in the European Union's evolving crypto landscape under the Markets for Crypto Assets (MiCA) regulatory framework.
France’s proactive regulatory stance and increasing crypto adoption were crucial to Gemini’s decision to launch in the country. The exchange, which operates in over 70 countries, highlighted France’s supportive approach to the digital asset industry as a key factor.
“France’s proactive approach and support for the crypto sector makes this country a promising market for Gemini to expand,” said Gillian Lynch, CEO of Gemini UK and Europe.
Gemini’s 2024 Global State of Crypto report revealed that France has emerged as one of the most crypto-friendly countries globally, with crypto ownership increasing by 2% since 2022 to 18%.
This growth, combined with decreasing regulatory concerns among French consumers, indicates increasing confidence in the sector.
France has seen a surge in crypto activity, hosting notable projects like hardware wallet maker Ledger and DeFi platform Morpho. The country’s robust VASP regulations and MiCA reforms are expected to further solidify its status as a crypto hub.
According to Gemini, France's regulatory clarity not only protects consumers but also fosters innovation, making it an attractive location for crypto companies.
*This is not investment advice.