- Winklevoss twins announce European headquarters
- It will be based in Dublin.
- Irish PM welcomes Gemini and says country is open to crypto asset service providers
Cryptocurrency exchange Gemini will open its headquarters in Dublin, Ireland. The country will become a “springboard” for the platform for the development of European markets. Interestingly, before that, the company considered another option – the UK.
Why Dublin? The Winklevoss twins, the exchange’s founders, attributed this to a “positive” regulatory climate, a large startup base, and strong tech talent.
Yesterday, May 25, they met with Irish Prime Minister Leo Varadkar. He confirmedthat Gemini became the first licensed Crypto Asset Service Provider (VASP).
The Prime Minister noted that the country is ready to accept other crypto companies. Varadkar sees technology as the main driver of economic growth and recognizes the vast potential of crypto.
Why not the UK?
The Winklevoss twins have previously stated that they are considering this particular country as a base for the European headquarters. But at the last moment they changed their mind.
What exactly is the reason is unknown. However, it is worth noting that in Ireland the normative climate is indeed better. Whereas calls to equate cryptocurrencies with gambling in the UK simply scared away the big “players”. By the way, this initiative of some politicians has already been commented on in Kraken and CryptoUK, simply ridiculing it. One way or another, but the UK seems to have lost a major partner.
