Gemini Exchange wins the Maca Maca license

Cryptocurrency Exchange Gemini received a license to regulate the markets of the crypto-sets (Mica) in Malta, supporting the continuous expansion of the company in Europe.

On Wednesday, the exchange belonging to Cameron and Tyler Winklevoss obtained a MICA license from the Malta Financial Services Authority (MFSA) on Wednesday, according to official MFSA files.

“The reception of this approval marks an essential step in our regulated European expansion, because it will allow us to extend our secure and reliable cryptographic products for customers from more than 30 European countries and jurisdictions,” Gemini said in a shared press release with Cointelegraph.

The regulatory milestone intervened shortly after Gemini filed the list of ordinary class A actions on the world Nasdaq market under Ticker Gemi last Friday.

Gemini welcomes “clear regulations”

“Today’s announcement cement the long -standing dedication of Gemini to maintain the highest standards of regulatory compliance as we play in the region,” said Gemini, highlighting the importance of mica for the adoption of cryptography.

“We believe that a clear regulation of industry is the basis of the global adoption of cryptography, and the implementation of the Mica has proven that Europe is one of the most innovative and the most avant-garde regions on this subject,” added the Gemini declaration.

Gemini also has a license in the markets of the financial instruments directive (MIFID II), received in May, allowing the exchange to offer derivatives on the European market.

Gemini offers tokenized stocks in the EU

In accordance with active expansion in the EU, Gemini has deployed a offer of tokens on the arbitrum blockchain at the end of June, targeting European customers.

Unlike traditional stock offers, token actions allow users to negotiate tokenized actions of companies such as Michael Saylor’s strategy (MSTR) with market access 24/7.

By launching token actions in the EU, Gemini has joined a growing tokenized trend, with competitors like Kraken Exchange launching a similar offer on Solana on June 30. Robinhood, an application for trading in user-friendly user-based actions in the United States, launched an arbitrum platform for EU users.

In relation: EU’s banking regulator finalizes rules for banks holding bitcoin, ether

In the EU, token actions are regulated within the framework of MIFID II, which classifies token financial instruments as financial instruments, similar to derivatives.

Malta issued five mica licenses

According to the MFSA register, Gemini is the fifth Crypto asset service provider (CASP) to receive a license from authority, joining Bitpanda, Crypto.com, OKX and ZBX.

The authority was examined by the European Securities and Markets Authority (ESMA) company, the main surveillance organization of Europe supervising compliance in Mica, in July for certain gaps in the authorization process of an unidentified CASP.

The MFSA then said that none of the Mica licenses was at risk following a recent ESMA peers exam, stressing its continuous commitment to close the collaboration with the EU authorities.