Gemini, a cryptocurrency exchange, has announced another milestone in its European expansion drive following new regulatory approvals in Italy and Greece.
Gemini has registered as a virtual currency operator with the Organismo Agenti E Mediatori (OAM), Italy’s payments services regulatory body, and with Greece’s Hellenic Capital Markets Commission (HCMC) as a custodial wallet provider and provider of exchange services between virtual and fiat currencies.
Along with its approval as an electronic money institution from the Central Bank of Ireland, these registrations give Gemini authorization to offer secure crypto services to clients in Italy and Greece.
Gemini’s registrations with the OAM and HCMC serve as proof that it complies with all relevant Greek and Italian anti-money laundering and counter-terror financing laws.
Gemini stated:
“As we expand across Europe, we continue to work in tandem with national and international regulators and policymakers to ensure that we are meeting the necessary regulatory requirements in all new markets.”
The most recent registrations occurred before Gemini encountered severe issues with its lending platform, Gemini Earn, which offers investors the chance to earn 8% by lending their cryptocurrency. The service allegedly halted withdrawals because of its connection to the failing cryptocurrency trading company Genesis Global Capital.
Gemini recently announced the launch of the Gemini Trust Center to reassure its users that the assets in their accounts are separate from Genesis Trading’s assets.
1/ We are pleased to announce the launch of the @Gemini Trust Center, a dashboard of metrics for the funds we hold on the Gemini platform and on your behalf, as well as other important data and information.
Learn more: https://t.co/EXaIDyezZt
— Gemini (@Gemini) November 29, 2022
With the most recent announcements of its expansions in Croatia, Cyprus, Czechia, Denmark, Hungary, Ireland, Latvia, Liechtenstein, Portugal, Romania, Slovenia, and Sweden, Gemini is now active in more than 65 countries.
Gemini also added:
“We’re excited about the momentum in our European roll out, which is in line with our goal to bring accessible, secure cryptocurrency services to consumers, corporations, and institutions around the world.”
If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
