Gemini selects Ireland as its second headquarters.

As part of its expansion beyond the United States, the cryptocurrency exchange Gemini has opened a second headquarters in Dublin, Ireland. The company has secured registration with the local central bank.

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Congratulations @Gemini -the first firm registered by the Central Bank of Ireland as a Virtual Asset Service Provider. This is significant for Ireland as the Government focuses on innovation as a driver of growth. I wish Gemini every success as they build their team in Ireland. pic.twitter.com/Y3WULIqwNc

— Leo Varadkar (@LeoVaradkar) May 25, 2023

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At a meeting with Prime Minister Leo Varadkar, Gemini’s founders Cameron and Tyler Winklevoss said they chose the jurisdiction because of its reliable regulatory framework, a substantial talent pool, and an established tech community.

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“We were looking at the entire EU as a potential entry point, and we felt very comfortable with Ireland and its regulators. So for us this was an obvious natural choice,” they said at Gemini.

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According to the twins, against the backdrop of the adoption of the MiCA Regulation, Europe is poised for a “Cambrian explosion of innovation”.

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The expansion decision came amid growing regulatory pressure in the United States. In June 2022, the US Commodity Futures Trading Commission filed suit against Gemini. The filings alleged that the platform misled the agency regarding bitcoin futures contracts.

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In January, the U.S. Securities and Exchange Commission charged Gemini with selling unregistered securities.

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In the spring, the company announced plans to open an office in India as part of expansion in the Asia-Pacific region. Around the same time, the co-founders stated that they were considering the United Kingdom as a site for a second headquarters.

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In April, Cameron Winklevoss criticized U.S. regulators for double standards during the First Republic Bank crisis.