Gemini Exchange has chosen Malta as the hub for the MiCA license application

The company already has a Virtual Asset Service Provider (VASP) license issued by the local regulator

20.01.2025 - 14:50

2 min

What’s new? Gemini twins Tyler and Cameron Winklevoss’ US-based centralized crypto exchange (CEX) Gemini has chosen Malta as its European hub to obtain a license under the EU’s common Markets in Crypto-Assets (MiCA) regulation. The company said that Malta’s proactive approach to supporting fintech innovation and the crypto ecosystem creates an ideal environment for the exchange to operate in Europe.

Material by Cointelegraph

What else is known? Under MiCA, obtaining a license in one EU country gives a crypto service provider the right to operate throughout the bloc. Preparations for the license began after Gemini received its sixth registration in Europe as a virtual asset service provider (VASP) from the Malta Financial Services Authority (MFSA) in December 2024.

Gemini currently holds VASP licenses in six EU countries: Malta, France, Ireland, Spain, Italy, and Greece.

As Gemini’s head of Europe, Mark Jennings, explained, in order to obtain a MiCA license, the company needs to submit a new application or, if it holds a VASP license, an application to switch to the new licensing regime.

According to Jennings, organizing the services’ infrastructure was one of the key elements of ensuring MiCA compliance for Gemini. He added that previously the requirements to operate in France, Spain, and Italy were different, but MiCA allows the exchange to create a scalable solution to support operations across Europe.

JPMorgan predicts the growth of euro-pegged stablecoins after MiCA comes into force

The EU-wide Markets in Crypto-Assets (MiCA) regulation obliges issuers of stablecoins to keep reserves in local banks and obtain licenses

While Gemini faced challenges in allocating resources to build the necessary infrastructure to comply with MiCA, the law allows Europe to address fragmented regulation and increase transparency and market resilience, the company noted.

Author: