Winklevoss Twins’ Gemini Exchange to Seek Crypto License in UAE - Bloomberg
Billionaire twins Tyler and Cameron Winklevoss’ Gemini crypto exchange plans to apply for a digital-asset license in the United Arab Emirates.
“Our application is our first step towards providing customers in the UAE and beyond with a safe, secure, and easy-to-use platform to engage with crypto,” Gemini said in a Twitter post on Thursday, adding the move is “another step towards making Gemini a truly global company.”
Gemini recently established a non-US crypto derivatives platform and in April unveiled plans to pursue growth in Asia. It’s one of a number of American digital-asset businesses that have been the target of legal action by the Securities and Exchange Commission. The regulatory heat has put the onus on searching for opportunities outside the US.
The exchange is also embroiled in an ongoing bankruptcy spat over failed crypto lender Genesis Global Capital. More than 200,000 users of Gemini’s Earn program have funds locked up in Genesis’s estate due to a service arrangement between the two companies.
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