On 20 January 2025, US-based Gemini announced moving its headquarters from Dublin to Malta as its hub for the Markets in Crypto-Assets (MiCA) framework – implemented by EU lawmakers to standardise crypto regulations across member states.
“Having received our Virtual Financial Assets (VFA) Service Licence in Malta in December 2024 (our sixth Virtual Asset Service Provider registration), the move will enable us to empower the next era of financial, creative and personal freedom in Europe,” Gemini said.
A 2024 company report revealed that 39% of non-crypto owners globally stated that a lack of regulatory clarity was a barrier for entry. This suggests that the rollout of comprehensive regulation like MiCA may boost crypto demand in the region.
Commenting on the move, Mark Jennings, Gemini’s Head of Europe said, “MiCA is a much needed regulatory development for the European crypto community.”
Gemini Opens Malta Hub to Comply with MiCA
Crypto exchange Gemini has launched a hub in Malta to align with EU’s MiCA standards, capitalizing on the country’s crypto-friendly policies. Licensed by the MFSA in December 2024, Gemini aims to expand its services to 32 European… pic.twitter.com/1KHlyz6yKJ
— Cryptol (@newscryptol) January 21, 2025
Malta Is Actively Encouraging Fintech And Digital Asset Companies
For Gemini, Malta can help drive its European operations, especially compliance with MiCA regulations.
The company’s decision is driven by the island nation’s crypto friendly policies.Malta has long been known as the “Blockchain Island.”
The Maltese government introduced the Virtual Financial Assets Act in 2018, providing a clear legal framework for cryptocurrencies, initial coin offerings (ICOs), and other blockchain-related activities.
“Our decision to establish Malta as our MiCA hub reflects our commitment to upholding regulatory standards, advancing innovation, and shaping the future of digital assets in Europe,” said Jennings. “We hope that it serves as a blueprint for crypto regulation globally.”
While Ireland has also positioned itself as a tech hub within Europe—housing major operations for companies like Google, Facebook, and Apple—it has a long way to go in defining crypto-specific regulations.
Gemini’s move comes across as a reputation hit to Ireland. Irish Independent reported, “A spokesperson for Blockchain Ireland, which represents Irish industry in the sector, described the move as “deeply concerning” for Ireland’s place in the emerging European crypto industries, adding that jobs in the sector may now be lost.”
Explore: Robinhood Expands To Spain, Offering Crypto Trading And Staking Under MiCA Regulations
Pressing Need For MiCA Compliance As US-Based Exchanges Expand To EU
Gemini aims to expand to 32 European states. But its not the only one. Many US-based exchanges are actively expanding presence in the EU.
Robinhood Crypto also announced its entry into Spain on 21 January 2025, enabling users in the country to access its trading, staking, and investing services. This marks the company’s latest move to broaden its European presence, following the implementation of the EU’s MiCA regulations at the end of December 2024.
Robinhood’s expansion aligns with its previously announced strategy to grow in Europe, the UK, and Asia. “In terms of total addressable market, [the EU] is as big as the US,” Johann Kerbrat, general manager of Robinhood’s crypto unit, noted last year.
On 18 January 2025, Crypto.com announced an in-principle approval for their MiCA license, making them the first major global crypto service provider to do so.
Explore:Crypto.Com Expands Services To EU With A MiCA License
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