• Gemini, the cryptocurrency exchange founded by the Winklevoss brothers, has received an Irish E-Money license

  • Cameron and Tyler Winklevoss’ cryptocurrency exchange, Gemini, has been granted a license to issue electronic money (e-money) in Ireland. In becoming permitted to issue digital cash in the country, the business joins the ranks of Facebook and Google.

    Gemini is the first fintech company to be approved by the Central Bank of Ireland to issue e-money since late 2020. The exchange had sought for a license locally in early 2020, anticipating a Brexit impact.

    The license comes after Gemini established an Irish base in 2021 as part of its plan to expand its activities in the European Union through the country. With the e-money license, the company can now provide a wider range of crypto and NFT services to customers in the United States.

    Binance and Coinbase, two popular cryptocurrency exchanges, are already available in Ireland.

    Ireland’s cryptocurrency legislation is limited, however it mainly adheres to European regulatory standards. Cryptocurrency is not regarded legal tender in the country, and any exchanges that operate there must register with the central bank.

    Gemini is a stickler for rules.

    Gemini, which was founded by the Winklevoss twins in 2014, has tried to distinguish itself from its competitors by emphasizing its regulatory compliance. It is one of the few crypto exchanges that has been approved by the Financial Code Authority (FCA) in the United Kingdom, and it is also permitted to issue e-money in the country.

    The company is also one of the first cryptocurrency businesses to be registered with the New York State Department of Financial Services, which is widely regarded as one of the world’s harshest financial regulators.

    The Gemini dollar is Gemini’s own stablecoin that may be used to transact on the exchange.

    Cameron and Tyler Winklevoss, the founders of Gemini, are best known for suing Facebook founder Mark Zuckerberg in the early 2000s. However, they have since become ardent proponents of cryptocurrency.

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