Gemini secures in-principle MiCA approval in Malta

Crypto Exchange Gemini announced that it has obtained the approval of the principle of the authorities of the financial services of Malta, the pre-authorization of the pre-authorization bringing together the exchange of a new expansion in Europe.

Mark Jennings, Head of Gemini of Europe, shared the regulatory phase in a blog February 11.

According to Jennings, the license of the investment company, which remains awaiting complete authorization by the MFSA, will allow Gemini to offer future and regulated options through the European Union and the European economic zone once fully approved.

The license will allow Gemini to operate within the framework of the markets directive in financial instruments (MIFID II), a key regulatory framework governing investment services in the EU.

“The reception of approval in principle for an investment license is a key step in our commitment to provide a better offer offer for retail and institutional investors. The interest in cryptographic derivatives, in particular institutions, has increased considerably in recent years, as the crypto matured in a class of recognized assets, ”noted Jennings.

While the Gemini license process is done through the Malta’s financial market regulator, the license will apply to the EU. This occurs while several cryptographic exchanges and platforms seek regulatory approval under the markets of the rules of cryptographic assets which cross the EU.

Several major crypto companies have already received Mica licenses, including Crypto.com and Bitpanda, which obtained approvals in January from Malta regulators and Germany, respectively. The other platforms that have obtained Mica approvals include OKX, Circle, Bulnish Group and Boerse Stuttgart Digital.

Gemini should join these companies, with his approval in principle to come after the exchange has appointed Malta as his country of application of the EU Hub and the Mica. Meanwhile, recent reports suggest that Gemini Looking at an IPO.