Gemini approved to operate in France, will debut within weeks

Cryptocurrency exchange Gemini has received approval to operate from the French financial markets regulator, giving it a presence in over a dozen European jurisdictions.
Derek Andersen
Posted by Derek Andersen January 17, 2024 2 Mins Read
Cryptocurrency exchange Gemini has received approval to operate from the French financial markets regulator, giving it a presence in over a dozen European jurisdictions.

Cryptocurrency exchange Gemini has received approval to operate in France as a digital asset services provider (DASP). The new registration brings the total number of European jurisdictions where Gemini operates to “over a dozen,” the company said on Jan. 17

Gemini services should be available there in the coming weeks, making over 70 cryptocurrencies available to institutional and retail traders, it said. Institutional traders will also have access to Gemini eOTC electronic over-the-counter trading. Gemini head of the European Union and Ireland Gillian Lynch said:

“France is a global innovation leader and has a vibrant crypto community as showcased by the success of Paris Blockchain Week. We are excited to soon be able to provide French customers with compliant and secure access to the future of finance.”

French media reported in December that financial markets regulator Autorité des marchés financiers (AMF) was granting Gemini and crypto exchange OKX PSAN (DASP) registration simultaneously, and Gemini was its 105th registrant.

Licensing from the AMF is a separate, optional step. Forge, a subsidiary of French bank Société Générale, was the first company to receive a PSAN license in July. It remains the only license holder listed on the AMF website at the time of writing. Companies must be “established in France” to obtain a license. United States-based Gemini opened its European Office in Ireland in May.

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Coinbase and Circle received AMF registration in December and Dutch Bitvavo was registered in November.

Gemini is facing a lawsuit by the U.S. Securities and Exchange Commission. The New York Attorney General’s office also filed suit against Gemini. Both suits concern Gemini’s Earn program, which it operated in partnership with Genesis, an affiliate of the Digital Currency Group (DCG). Gemini has entered into legal conflict with Genesis and DCG as well.

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