Nikolas Sargeant
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is amplifying its European presence through strategic leadership appointments and regional expansion. Mark Jennings, previously CEO of Kraken's European operations and veteran of financial giants Citigroup and Credit Suisse Group, will spearhead Gemini's European division.
The leadership expansion includes Daniel Slutzkin as UK head and Vijay Selvam as international general counsel. Selvam, transitioning from Gemini's Asia-Pacific team, will oversee licensing and regulatory compliance across Europe. Corporate filings confirm Slutzkin's December appointment to Gemini's UK board positions.
European Expansion and Regulatory Compliance
The exchange marked a significant milestone in November with its French market entry, following its virtual asset services provider approval. This expansion coincides with the European Union's Markets in Crypto-Assets (MiCA) regulation implementation last December, which requires crypto service providers to register within three months to maintain operations.
Ireland: Gemini's European Gateway
Dublin emerged as Gemini's European headquarters in 2023, following extensive discussions between the Winklevoss twins and various regulatory authorities. This strategic choice has influenced other industry players, with Crypto.com securing its virtual asset service provider license in Ireland by June 2024, and HashKey's European division recently obtaining similar approval.
Ireland's appeal to cryptocurrency firms stems from its proactive approach to financial innovation. The country's 2018 initiative to establish an innovation hub has particularly attracted blockchain and crypto enterprises, with these sectors accounting for approximately one-third of all innovation hub inquiries by 2022.
While Gemini expands its European operations, it continues to navigate regulatory challenges in the United States. Recently, the exchange reached a $5 million settlement with the Commodity Futures Trading Commission regarding alleged misleading statements about Bitcoin futures.
"This incredible opportunity allows me to lead in one of the most dynamic and rapidly evolving markets for digital assets," Jennings stated on LinkedIn, expressing enthusiasm about expanding Gemini's regional presence and exploring new opportunities in digital assets.
