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The cryptocurrency exchange Gemini, operated by the Winklevoss twins, is set to expand its presence in Europe, starting with several significant senior appointments. Mark Jennings, the former CEO of Kraken, will lead the exchange’s European division, as announced in a press release on Thursday.
Jennings, who previously managed Kraken’s European operations, has also held positions at Citigroup and Credit Suisse Group, among others.
Additionally, Gemini has appointed Daniel Slutzkin as the head of the UK and Vijay Selvam as global general counsel. Selvam previously worked within Gemini’s Asia-Pacific team and will now oversee the company’s licensing and regulatory compliance in Europe.
According to the company’s corporate filings, Slutzkin joined the board of Gemini’s UK entities in December, as noted in a Bloomberg report.
“This incredible opportunity allows me to lead in one of the most dynamic and rapidly evolving markets for digital assets,” Jennings stated in a LinkedIn post. “I am eager to work with an exceptional team as we strive to enhance our presence, serve our clients across the region, and unlock new possibilities in the digital asset space.”
In November, the exchange officially commenced its operations in France, 11 months after receiving approval to function as a digital asset services provider.
Meanwhile, the European Union (EU)’s significant regulation for the increasingly prominent crypto-assets sector – MiCA – came into full effect last December. This licensing requirement compels all existing crypto service providers to register within three months or face operational suspension.
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Gemini’s Strong Presence in Ireland
The cryptocurrency exchange selected Dublin, Ireland, as the site for its European headquarters in 2023. This decision followed the twins’ participation in several international meetings with government and regulatory officials, including those from Ireland and the UK.
Shortly thereafter, other exchanges followed suit, establishing a strong foothold in Ireland. For instance, Crypto.com received the digital asset service provider (VASP) license from the Central Bank of Ireland in June 2024.
Earlier this week, the European branch of the cryptocurrency exchange HashKey obtained approval for a VASP in Ireland, highlighting the region as a rapidly developing crypto hub.
Crypto companies are flocking to the country as part of a concerted effort by Ireland to promote innovation. In 2018, the Irish government established an innovation hub to enable fintech companies to engage with the central bank.
According to a 2022 update from the Central Bank of Ireland, one-third of inquiries into the innovation hub originated from firms within the blockchain or crypto sectors.
In contrast, several crypto companies, including Gemini, have recently faced significant regulatory scrutiny in the US. On Tuesday, the exchange reached a $5M settlement with the CFTC over allegations of misleading statements regarding Bitcoin futures.
The post Gemini Forms Senior Management Team in Europe to Encourage Growth appeared first on Cryptonews.
