Cryptocurrency exchange Gemini chooses Malta

Cryptocurrency exchange Gemini has announced that it has been granted a Virtual Financial Asset (VFA) license in Malta, making the island a hub for its operations under the Markets in Crypto Asset Framework (MiCA).

The selection of Malta was made possible by its supportive approach to innovation in fintech and digital assets.

Mark Jennings, Gemini’s Head of Europe, said that MiCA represents a significant regulatory development, with the company committed to maintaining standards and fostering innovation.

This decision comes as the MiCA regulations are gradually implemented, with the initial phase relating to stablecoins set to come into effect in mid-2024, with implementation to be completed by the end of the year.

Gemini has also secured similar registrations in France and Singapore, reflecting its focus on global expansion.