US-based crypto exchange Gemini announced it seeks a crypto license in the United Arab Emirates, citing “hostility and [a] lack of clarity” on US regulations.
Gemini, the cryptocurrency exchange owned by Cameron and Tyler Winklevoss, announced on Wednesday that it will “soon” start the process of obtaining a crypto service license for customers in the United Arab Emirates (UAE).
1/ We’re coming to the UAE! 🇦🇪We’re thrilled to announce that Gemini will soon begin the process of acquiring a crypto license to serve customers based in the United Arab Emirates (UAE). pic.twitter.com/Ycdj9RxMbE
— Gemini (@Gemini) June 1, 2023
In a blog post, the exchange said the UAE, as a forward-thinking, global financial hub, is fast establishing itself as a crypto hub. The company said its team has met with stakeholders throughout the region to learn more about local regulatory requirements, further stating that it aims for the “adoption of crypto globally across 20 countries.”
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