According to the latest crypto news, the exchange Gemini has chosen Malta as its main hub to comply with the European MiCA regulation.
This decision follows the company’s strategic line, which has reiterated its desire to expand into the EU crypto market.
In July of last year, even the rival OKX had decided to establish itself in the archipelago of Malta in view of the MiCA implications.
Let’s see all the details below.
Summary
Gemini moves to Malta: new MiCA compliance hub
The well-known cryptocurrency exchange Gemini has just announced its decision to place its MiCA compliance hub in Malta.
The news comes after the same exchange platform had received the license for the virtual financial asset (VFA) service in the country in December 2024.
Just a month later, Gemini decides to officially relocate to Malta, emphasizing its commitment to improving regulatory compliance.
The Winklevoss brothers’ company had previously reiterated its intention to expand into the European market, focusing primarily on aligning with the new regulations in force in the European Union.
Gemini is already present in over 30 countries on the continent, but with this move, it further strengthens its position by improving the perception of the brand’s reliability.
Furthermore, compliance with the MiCA rules allows the exchange to aim for sustainable growth in the long term, without the risk of facing sanctions or impositions from regulators.
Malta represents the perfect territory to comply with EU regulations, especially given the competitive tax regime to the advantage of crypto companies.
The country has also accumulated significant experience in the supervision and management of crypto activities, thanks to the position of the Malta Financial Services Authority (MFSA)
The announcement of Gemino follows several senior hires in Europe, leading Gemini’s ambitious growth plans. Among these are Mark Jennings, head of Europe, Daniel Slutzkin, head of the United Kingdom, and Claudio Bedino, head of consumer growth in Europe.
With the opening of Gemini’s office in Malta, a recruitment phase is also planned for the formation of a local team that can lead the new operations.
Gemini follows in the footsteps of rival exchange OKX and chooses the flexibility of Malta
Gemini is not the first exchange to have chosen Malta as an operational hub for compliance with MiCA regulation.
In July 2024, the competitor OKX had announced its relocation to the country in anticipation of the new European standards introduced with the regulatory framework.
Also for OKX, the goal of the plan was to create a clear and uniform regulatory environment that could facilitate innovation and protect investors.
The choice to focus on Malta, both for Gemini and for the rival exchange, lies in the factors of flexibility and taxation.
Malta is indeed one of the most indulgent European hubs, with a decidedly less strict and more advantageous approach than other nations such as France.
This does not mean that Malta operates against the regulatory standards of Europe, but rather that
its flexibility allows acting in favor of the needs of crypto companies while remaining compliant with the MiCA framework. In fact, Malta is also known as “Blockchain Island”, with a strong reputation as a hub for technological innovation with low tax burdens.
Over the past few years, the country has become increasingly attractive in the eyes of crypto exchanges and brokers like Gemini that require a crypto-friendly government climate.
Not by chance, Bybit, Kraken, Uphold, Gate.io, and eToro all have an office in Malta, from which they manage their European operations in compliance with MiCA regulations.
The MiCA regulation could improve the adoption of cryptocurrencies in Europe
According to Gemini, the lack of regulatory clarity represents a strong barrier to entry against the growth of the crypto sector.
Based on the findings in the latest report “State of Crypto del 2024“, it was discovered that 38% of non-cryptocurrency owners cite the lack of clear regulation and transparency as the main reason that drives them not to hold digital coins.
The report also explains how with the arrival of MiCA, it is possible that the demand for crypto tokens will see strong growth in Europe.
Investors, both retail and institutional, indeed need to be protected by a comprehensive regulatory framework within such a challenging sector as the crypto one.
Now that Gemini takes an important step in the path to compliance, the company marks a significant milestone in its expansion plans.
After the recent launch of Gemini in France, today’s announcement represents a milestone for building a secure and innovative ecosystem for its community.
In the coming months, Gemini plans to launch new features for its customers, continuing the mission to strengthen its presence in EU countries and in the United Kingdom.
Regarding the transfer to Malta, Mark Jennings, European head of Gemini, stated the following:
“MiCA is a much-needed regulatory development for the European crypto community. Our decision to establish Malta as our MiCA hub reflects our commitment to supporting regulatory standards, promoting innovation, and shaping the future of digital assets in Europe. We hope it serves as a model for cryptocurrency regulation at a global level.”
