Gemini, a prominent American digital asset trading company, has announced the recruitment of a new executive team, specializing in expanding the platform’s presence in Europe – an area recognized for its rigorous cryptocurrency regulations like MiCA (Markets in Crypto-Assets Regulation). This regulation, fully enforceable as of December 2024, will be instrumental in their operations.
As per a Bloomberg report, it’s been announced that Mark Jennings, who previously held the position of Chief Operating Officer for Europe at competitor Kraken, is joining Gemini as the head of their European operations. Furthermore, Daniel Slutzkin, who was earlier the country manager (UK and Europe) for the investing platform Stake, has been hired by Gemini to lead their UK operations.
Gemini’s Strategic Leadership Expansion & Vision
On his LinkedIn post, Slutzkin emphasized that Gemini could potentially grow significantly in the United Kingdom due to the government’s plans to develop a fresh regulatory structure for cryptocurrencies. In parallel, Jennings mentioned:
Cryptocurrencies are fundamentally altering our perspectives on money, autonomy, and progress. Gemini stands out as a trailblazer within the field due to their unflinching dedication to reliability, safety, and cutting-edge innovation in this innovative sector.
Vijay Selvam, who previously served as the top legal advisor for a Nasdaq-listed digital asset management company called EQONEX Group, has now taken on the role of International General Counsel at Gemini. He will be stationed in the United Kingdom. It’s worth mentioning that Selvam was initially part of Gemini’s team focusing on the Asia-Pacific region, but he has since been transferred to work with the Europe and UK team.
Regulatory Landscape and Exchange Performance
By December 30th, cryptocurrency service providers functioning within the European Union (EU) must adhere to the fresh regulations set forth by MiCA. These new standards primarily aim to deter money laundering activities, yet simultaneously offer a conducive environment for the blockchain sector to thrive without unduly strict regulatory measures potentially forcing crypto companies out of the region.
Additionally, the UK’s Financial Conduct Authority (FCA) unveiled its cryptocurrency regulatory blueprint, detailing new guidelines for capital reserves, insider trading prohibitions, and execution standards. The authorities aim to implement these new rules by 2026, although some aspects of this plan have already been put into action. This is due to the rapid shift in cryptocurrency adoption happening in the United States, as suggested by a recent report.
Established by Tyler and Cameron Winklevoss back in 2014, Gemini presently holds the position of the 24th largest centralized exchange, with a daily spot trading volume of approximately $180 million. In terms of crypto derivatives, it ranks 14th, boasting a volume of around $19.87 million, according to data from CoinMarketCap.
Read More
- ZK PREDICTION. ZK cryptocurrency
- ARB PREDICTION. ARB cryptocurrency
- W PREDICTION. W cryptocurrency
- XRD PREDICTION. XRD cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- DGB PREDICTION. DGB cryptocurrency
- Matter Labs Drops All ‘ZK’ Trademark Applications: Details
- FLOKI PREDICTION. FLOKI cryptocurrency
- Vishnu Manchu finally ENDS THE SILENCE over ongoing family feud between Manchu Manoj and Mohan Babu
- LDO PREDICTION. LDO cryptocurrency
2025-01-09 20:32