The Gemini cryptocurrency exchange, founded by brothers Tyler and Cameron Winklevoss, is considering expanding to the United Arab Emirates. According to rumors, the duo has a plan to obtain a digital asset license in the UAE.
Gemini Decides to Expand to the United Arab Emirates as Its New Target
In a blog post, Gemini cited growing public interest in cryptocurrencies and fruitful meetings with UAE officials as justifications for the license request. The famous blockchain announced on its official Twitter accounts that it started the process of obtaining a crypto license in the UAE.
Additionally, the decision was driven by animosity and a lack of clarity surrounding crypto legislation in the United States, according to Cameron and Tyler Winklevoss, co-CEOs of Gemini.
According to the official release, Gemini representatives visited with stakeholders across the UAE to find out more about the country’s regulatory requirements. In order to provide customers with a tailored service, they actually looked into the needs of regional crypto investors.
Gemini Aims to Be Present in 20 Countries
The goal of Gemini is to have 20 countries accept cryptocurrencies globally. Its initiative in the UAE coincides with the nation’s efforts to tighten the laws governing virtual assets in an effort to entice new kinds of companies as economic competition in the Gulf region intensifies.
About Gemini
A cryptocurrency exchange and custodian based in the United States, Gemini Trust Company, LLC (Gemini) enables users to purchase, exchange, and store digital assets. Twin brothers Tyler and Cameron Winklevoss established it in 2014. The countries where it currently conducts operations are Singapore, South Korea, Hong Kong, Canada, and the United States.
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