Gemini is considering the UK as its global hub
Gemini is considering the UK as its global hub
Cryptocurrency exchange Gemini is considering moving its headquarters to the United Kingdom due to the hostile climate in the United States.
The founders of cryptocurrency exchange Gemini, brothers Cameron and Tyler, said they are actively seeking a location for the new global hub and have met with officials from the UK's Financial Conduct Authority and the Bank of England in connection with the move.
Blaming U.S. regulators for their hostile approach to cryptocurrencies, the brothers said there are currently many obstacles and inaccuracies in the regulation of digital assets that make it difficult to grow their business in the United States, according to the CoinGape website.
"In order to keep building our business and invest in hiring, we have to look elsewhere," they added.
Cameron and Tyler said they plan to invest heavily in the United Kingdom to establish a second headquarters or global office here.
The brothers also said they have no plans to leave the U.S., despite strong growth abroad, and intend to continue to pursue their interests there.
However, the twins warned that they have some doubts about the inconsistent treatment of cryptocurrency companies in the UK, highlighting a recent report by MPs that compared the crypto sector to gambling.
Earlier, we wrote that the Philippine regulator had warned Gemini about breaking the law.
Gemini is a universal cryptocurrency and crypto-fiat trading platform that has its own contingency insurance fund. The exchange offers a high level of client support and a wide range of educational programs for novice traders.
