By Nermeen Nabil Khear 
Crypto exchange Gemini has announced a major expansion plan in Europe. The trading platform plans to comply with the new crypto rules set by the European Union (EU), known as MiCA (Markets in Crypto-Assets).
Gemini, on Monday, January 20 announced plans to open a special hub in Malta. Most crypto exchanges are making changes to comply with MiCA, to enable them to operate without legal complications.
Gemini Taps Malta as MiCA Hub in European Expansion Drive
Strengthening Europe’s Financial Future Through Strategic Innovation
In a move that signals its commitment to the European crypto market, Gemini has announced Malta as its hub for the Markets in Crypto-Assets (MiCA)… pic.twitter.com/WA6rxj0Hmp
— Rocco Strydom
(@sgmpodcst) January 21, 2025
What is MiCA and Why is it Important?
MiCA is a new set of rules designed to make crypto trading safer and more transparent across Europe. It aims to create one common set of guidelines for all EU countries, making it easier for businesses like Gemini to operate. Before MiCA, different countries had their own rules, which made things confusing and difficult.
3/ What Is MiCA!?
MiCA (Markets in Crypto-Assets Regulation) is the EU’s crypto framework launching Dec 30, 2024.
It:
1) Protects investors
2) Regulates stablecoins
3) Licenses crypto providersIn simple terms MiCA aims to protect investors and ensure stability in the crypto…
— Fefe Demeny (@FefeDemeny) December 28, 2024
Gemini’s Plans in Malta
Gemini received a Virtual Asset Service Provider (VASP) license from the Malta Financial Services Authority (MFSA) in December 2024. This license is a big step, but Gemini still needs to get full approval under MiCA.
According to Mark Jennings, Gemini’s head of Europe, companies can either apply for a fresh MiCA license or upgrade their existing VASP license to meet the new standards.
With licenses in Malta, France, Ireland, Spain, Italy, and Greece, Gemini is working hard to expand its services. It even launched its crypto services in France in November 2024 after securing the French VASP license.
Why Malta?
Malta is known for being friendly to financial technology and crypto companies. It offers a supportive environment, making it the perfect place for Gemini to set up its European base and build its operations.
. @Cryptocom secures In-Principle MiCA approval from Malta, marking a significant step in EU crypto regulation compliance!
Simpler, stronger, and ready for the future.
pic.twitter.com/VnqGfPr9Q5
— Pampa.cro (@Pampadalampa) January 17, 2025
Some experts expect crypto activities to thrive in Europe with the new MiCA laws. However, stablecoins remain a gray area. While MiCA makes things clear, there are some concerns about stablecoins. For example, Tether has not received approval, meaning it could exit the European market.
Nonetheless, MiCA presents a huge opportunity for crypto firms like Gemini, providing a clear future for exchanges and other market participants.
Disclaimer
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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