Crypto exchange Gemini has received a Markets in Crypto-Assets Regulation (MiCA) license from Malta's Financial Services Authority (MFSA), a significant step toward its regulated European expansion. With MiCA clearance, Gemini may now provide its crypto products in over 30 European countries.
Gemini stressed the importance of clear regulation, such as MiCA, for global crypto acceptance and applauded Europe's forward-thinking approach to crypto laws. The license comes shortly after Gemini filed to float its Class A common stock on Nasdaq under the ticker symbol GEMI.
In addition to MiCA, Gemini has had a MiFID II license since May, which allows the exchange to provide derivatives in Europe. Gemini has also launched tokenized stocks on the Arbitrum blockchain, giving EU consumers 24/7 access to tokenized shares of companies such as Strategy (MSTR). This is comparable to steps taken by other exchanges, such as Kraken and Robinhood.
Gemini is Malta's sixth licensed crypto service provider, following Bitpanda, Crypto.com, OKX, and ZBX. Despite a recent inquiry by the European Securities and Markets Authority (ESMA) into the MFSA's authorization procedure, none of the MiCA licenses are considered at risk. The MFSA continues to collaborate with EU regulators to maintain compliance standards.
