Gemini, a cryptocurrency exchange, has recently been authorized to function as a digital asset service provider (DASP) in France. This development, announced on January 17, expands Gemini's European presence to over a dozen jurisdictions. The exchange plans to launch its services in the upcoming weeks, offering a selection of more than 70 cryptocurrencies to both retail and institutional investors. Additionally, institutional clients will have the opportunity to engage in electronic over-the-counter (eOTC) trading through Gemini.
Gillian Lynch, who leads Gemini's operations in the EU and Ireland, commented on the expansion: "France stands at the forefront of global innovation and boasts a thriving crypto community, as demonstrated by the success of Paris Blockchain Week. We are thrilled about the prospect of soon providing French customers with a secure and compliant platform for their financial future."
Reports from French media in December revealed that the country's financial markets regulator, the Autorité des Marchés Financiers (AMF), granted DASP registrations to both Gemini and another cryptocurrency exchange, OKX PSAN. With this, Gemini became the 105th entity to be registered with the AMF.
In other developments, Gemini is currently involved in legal challenges in the United States. The U.S. Securities and Exchange Commission has filed a lawsuit against Gemini, and the New York Attorney General's Office has also initiated legal action against the exchange. Both lawsuits are connected to the Gemini Earn program, a collaborative venture between Gemini and Genesis, a subsidiary of Digital Currency Group (DCG). Legal disputes have also arisen between Gemini, Genesis, and DCG.
