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Gemini Exchange Wants to Leave the US

Jun 1, 2023
2 min read

The Winklevoss brothers, founders of Gemini exchange, are looking for another country to run their business, according to Bloomberg News. Seems like they are very excited about the future that lies ahead of their company. Not so long ago, Cameron tweeted:

Gemini Exchange Wants to Leave the US content image

The Winklevoss brothers visited London last week. Together with other heads of crypto companies, they held a series of meetings with local regulators. They also discussed the possibility of opening a second headquarters in the British capital. However, they suddenly changed their minds and chose Dublin. On May 25, brothers held a meeting with Irish Prime Minister Leo Varadkar. He confirmed that Gemini has become the first licensed Virtual Asset Service Provider (VASP). The Prime Minister noted that the country is ready to accept other crypto companies.

Due to tighter U.S. crypto policies, the Gemini exchange recently launched an offshore derivatives platform. The platform will operate in 60 countries around the world (except the US). Still, the Winklevoss brothers do not comment on information about plans to completely close in the United States.

However, let’s not forget that the SEC filed a complaint against Gemini exchange in January. The Winklevoss brothers decided to fight the regulator. Not so long ago, Genesis and Gemini demanded to drop the accusations regarding the Earn program, which the commission recognizes as an offer of securities. Now the court will decide who’s right in this dispute.

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