Winklevoss Twins Crypto Exchange Gemini to Apply for UAE Crypto License

The US-based cryptocurrency exchange is now seeking a UAE license and has reportedly told local media that it there was "hostility and lack of clarity" on regulations in the United States

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Gemini, the crypto exchange owned by Winklevoss, has announced that it has started the process of acquiring a crypto service license for customers in the United Arab Emirates (UAE).

In a May 31 blog post, Gemini cited increased enthusiasm for cryptocurrencies among citizens and positive conversations with UAE regulators as the reason for pursuing the license.

Furthermore, Gemini co-CEOs Cameron and Tyler Winklevoss told Zaywa that the move was spurred after experiencing "hostility and a lack of clarity" over the regulation of crypto in the United States. United.

1/ We are coming to the UAE!

We are delighted to announce that Gemini will soon begin the process of acquiring an encryption license to serve customers based in the United Arab Emirates (UAE). pic.twitter.com/Ycdj9RxMbE

— Gemini (@Gemini) June 1, 2023

"We have been very encouraged by our conversations here with regulators," Gemini CEO Tyler Winklevoss told Abu Dhabi-based newspaper The National.

"There is an effort to make the UAE a home and a hub for crypto and, most importantly, to enact thoughtful regulation that connects, that both protects consumers, but also the ability to a company to innovate."

As of press time, the Winklevoss twins have yet to decide where to base operations for the swap...