Latest news with #CameronWinklevoss
Arabian Post
a day ago
- Business
- Arabian Post
Coinbase Chooses Luxembourg as EU Licensing Hub
Coinbase has received authorisation under the EU's Markets in Crypto‑Assets regulation through Luxembourg, designating the country as its primary European hub and shifting focus away from Ireland. The approval — the first of its kind for a major U.S. exchange — grants Coinbase a passport to operate across all 27 EU member states. Luxembourg's growing financial stature and regulatory strength made it a logical choice, according to Coinbase, which already employs around 200 staff across Europe. The exchange plans to expand its Luxembourg team by at least 20 personnel by year-end. Luxembourg's regulator declined to comment, but insiders say the jurisdiction sets a 'high‑bar' for entry — a stance that counters concerns from other nations about lax standards in smaller markets. This move underscores a broader shift in the EU crypto ecosystem. Gemini, founded by Tyler and Cameron Winklevoss, is expected to be granted its MiCA licence by Malta, following earlier approvals of OKX and These licensing decisions highlight the increasing competition among EU member states to attract digital‑asset firms. ADVERTISEMENT Meanwhile, Ireland — previously heralded as Coinbase's launchpad with an e‑money licence and Virtual Asset Service Provider registration — has lost momentum. Its central bank governor previously warned that crypto often operates like a Ponzi scheme, reflecting a cooler official attitude toward the industry. MiCA's passport system allows a single licence to provide regulatory cover throughout the bloc, but some EU financial watchdogs are raising concerns. They argue that rapid approvals in smaller jurisdictions like Malta or Luxembourg could lead to uneven regulatory enforcement, undermining the very protections the framework aims to provide. The European Securities and Markets Authority is reportedly monitoring these developments amid internal discussions about its oversight role. Luxembourg's emerging appeal as a crypto gateway appears rooted in its established reputation as a financial centre with robust supervision. In contrast, Ireland's more sceptical posture may have made it less attractive for firms seeking clearly defined regulatory environments under the new rules. Market analysts say these MiCA approvals could significantly increase institutional confidence in European digital‑asset markets, offering a model for compliance and consumer protection. However, they warn that inconsistent national implementation could result in 'regulatory arbitrage,' where firms exploit jurisdictional loopholes. The global crypto market, valued at around US $3.3 trillion, is still navigating the fallout from major collapses like FTX in 2022. MiCA marks a pivotal shift toward formal oversight in the EU, aiming to safeguard investors while fostering innovation. The licensing of high‑profile U.S. exchanges such as Coinbase and Gemini represents a critical test of whether this new continental regime can deliver both growth and stability.
Irish Examiner
6 days ago
- Business
- Irish Examiner
Crypto firm which switched HQ from Ireland to Malta poised to secure EU licence
Two of the world's largest cryptocurrency companies are poised to secure licences granting them access to operate across the European Union, as a rift grows among regulators over the speed and rigour of some countries' approvals, according to sources familiar with the matter. Under the EU's new Markets in Crypto-Assets (MiCA) regulation, which came into force earlier this year, member states can issue licences that allow crypto companies to operate throughout the 27-nation bloc, but some have raised concerns in closed-door meetings about the speed with which licences are being granted, two people familiar with those discussions said, asking not to be named because of the sensitivity of the matter. At stake is the oversight of the multi-trillion-dollar crypto industry, which regulators have long warned could facilitate fraud, market instability, and illicit financial flows if it is not properly supervised. MiCA aims to bring crypto under the same regulatory umbrella as traditional finance, but some fear that uneven enforcement could undermine its goals. Gemini, a crypto trading platform founded by billionaire twins Tyler and Cameron Winklevoss, is on the verge of receiving a licence to operate from Malta, the smallest country in the European Union, two people said. This follows Malta's earlier approvals of OKX and granted within weeks of the new regime's introduction. Gemini launched Ireland as its European base, to much fanfare, in 2023, but in January 2025 moved its European operations from Ireland to Malta. The Winklevoss twins famously sued Facebook's Mark Zuckerburg accusing him of stealing their idea. Mr Zuckerburg countersued and the twins eventually dropped their lawsuit after agreeing a settlement believed to be in the region of €50m. The pace of Malta's approvals has drawn scrutiny from other national regulators, who meet under the umbrella of the European Securities and Markets Authority (ESMA). France's AMF has publicly warned that ESMA's lack of direct authority could lead to a "regulatory race to the bottom". Another senior regulatory official, who did not wish to be identified, said that they were concerned about accepting licences granted in countries where regulators had fewer staff, citing Malta as one example. ESMA has scrutinized Malta's licensing process, with a report due to be circulated in the near future, said one of those people. A spokesperson for the Malta Financial Services Authority said it had granted four crypto licences so far and was able to move fast due to its past experience, adding that "expedited processing" was due to its "in-depth understanding acquired over these years". It said its local money laundering standards were strict. ESMA declined to comment. OKX said its application was "rigorous" and that compliance was a priority. The regulatory debate has intensified with expectations that Luxembourg will soon grant a licence to Coinbase, the first US crypto-focused company to join the S&P 500, one of the people said. While the application has been in progress for several months, one person pointed to the relatively modest size of Coinbase's planned operation in Luxembourg. A Coinbase spokesperson did not comment on its application but said it employed 200 in Europe and that it invested in staff to ensure operations were safe. The spokesperson said Luxembourg was a "high-bar, well respected global financial centre" and that Coinbase would hire more than 20 people there by the end of the year. Luxembourg's financial watchdog declined to comment. One person familiar with Luxembourg's thinking dismissed any suggestion that the country was lax and said some critics were rather motivated by self interest in a race to attract crypto firms. Coinbase's anticipated approval is seen as a setback for Ireland, where relations with the crypto industry have cooled. In 2023, Central Bank Governor Gabriel Makhlouf compared crypto to a Ponzi scheme, warning that 'most of the time when you gamble, you're actually losing'. The global cryptocurrency market is currently valued at roughly €2.6tn but it has seen crises, such as the collapse and fraud of top US exchange FTX in 2022. The European Union has long had to contend with divergence between its members. The dispute is unfolding as European politicians consider granting greater powers to regulator ESMA. While the European Union is united as a trading bloc and writes much regulation centrally in Brussels, countries vie with each other to attract international businesses. ESMA head Verena Ross has also pushed publicly for more powers to oversee crypto, although one person familiar with discussions among EU politicians said several countries were sceptical.
The Star
13-06-2025
- Business
- The Star
Exclusive-Crypto giants set for EU green light amid growing regulatory rift, sources say
PARIS/FRANKFURT (Reuters) -Two of the world's largest cryptocurrency companies are poised to secure licences granting them access to operate across the European Union, as a rift grows among regulators over the speed and rigour of some countries' approvals, according to sources familiar with the matter. Under the EU's new Markets in Crypto-Assets (MiCA) regulation, which came into force earlier this year, member states can issue licences that allow crypto companies to operate throughout the 27-nation bloc, but some have raised concerns in closed-door meetings about the speed with which licences are being granted, two people familiar with those discussions said, asking not to be named because of the sensitivity of the matter. At stake is the oversight of the multi-trillion-dollar crypto industry, which regulators have long warned could facilitate fraud, market instability and illicit financial flows if it is not properly supervised. MiCA aims to bring crypto under the same regulatory umbrella as traditional finance, but some fear that uneven enforcement could undermine its goals. Gemini, a crypto trading platform founded by billionaire twins Tyler and Cameron Winklevoss, is on the verge of receiving a licence to operate from Malta, the smallest country in the European Union, two people said. This follows Malta's earlier approvals of OKX and granted within weeks of the new regime's introduction. The pace of Malta's approvals has drawn scrutiny from other national regulators, who meet under the umbrella of the European Securities and Markets Authority (ESMA). France's AMF has publicly warned that ESMA's lack of direct authority could lead to a "regulatory race to the bottom". Another senior regulatory official, who did not wish to be identified, said that they were concerned about accepting licences granted in countries where regulators had fewer staff, citing Malta as one example. ESMA has scrutinized Malta's licensing process, with a report due to be circulated in the near future, said one of those people. A spokesperson for the Malta Financial Services Authority said it had granted four crypto licences so far and was able to move fast due to its past experience, adding that "expedited processing" was due to its "in-depth understanding acquired over these years". It said its local money laundering standards were strict. ESMA declined to comment. OKX said its application was "rigorous" and that compliance was a priority. SELF INTEREST? The regulatory debate has intensified with expectations that Luxembourg will soon grant a licence to Coinbase, the first U.S. crypto-focused company to join the S&P 500, one of the people said. While the application has been in progress for several months, one person pointed to the relatively modest size of Coinbase's planned operation in Luxembourg. A Coinbase spokesperson did not comment on its application but said it employed 200 in Europe and that it invested in staff to ensure operations were safe. The spokesperson said Luxembourg was a "high-bar, well respected global financial centre" and that Coinbase would hire more than 20 people there by the end of the year. Luxembourg's financial watchdog declined to comment. One person familiar with Luxembourg's thinking dismissed any suggestion that the country was lax and said some critics were rather motivated by self interest in a race to attract crypto firms. Coinbase's anticipated approval is seen as a setback for Ireland, where relations with the crypto industry have cooled. In 2023, Central Bank Governor Gabriel Makhlouf compared crypto to a Ponzi scheme, warning that 'most of the time when you gamble, you're actually losing.' The global cryptocurrency market is currently valued at roughly $3.3 trillion but it has seen crises, such as the collapse and fraud of top U.S. exchange FTX in 2022. The European Union has long had to contend with divergence between its members. The dispute is unfolding as European politicians consider granting greater powers to regulator ESMA. While the European Union is united as a trading bloc and writes much regulation centrally in Brussels, countries vie with each other to attract international businesses. ESMA head Verena Ross has also pushed publicly for more powers to oversee crypto, although one person familiar with discussions among EU politicians said several countries were sceptical. (Reporting by Elizabeth Howcroft in Paris and John O'Donnell in Frankfurt, additional reporting by Hannah Lang in New York; Editing by Elisa Martinuzzi and Louise Heavens)
Time of India
07-06-2025
- Business
- Time of India
Gemini confidentially files for US IPO as crypto markets heat up
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Gemini, a crypto exchange run by billionaire twins Tyler and Cameron Winklevoss, on Friday disclosed it had confidentially filed for a U.S. initial public offering, as digital asset firms seize on renewed market high-profile companies, including those in high-risk sectors such as crypto and financial technology, have launched successful listings in recent weeks, reflecting pent-up demand and renewed vigor in the capital this week, stablecoin issuer Circle went public in a blowout debut on the New York Stock Exchange."Pre-IPO crypto companies would be crazy not to move ahead with listings after seeing how Circle traded," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "Crypto can be an unpredictable market, so when you get a chance like this, you take it."The surge in cryptocurrency IPOs signals a turning point for the industry, reflecting growing confidence among digital asset firms to attract mainstream investors and bringing increased transparency, regulatory scrutiny and capital that could help solidify crypto's place in traditional financial which operates a trading platform enabling investors to buy, sell and store more than 70 crypto tokens, said it has not yet determined the size or proposed price range for its offering."Gemini's move contributes to the broader momentum and reinforces the idea that crypto-native firms are increasingly preparing to access public markets," said Kat Liu, vice president at IPOX."More broadly, this signals that long-anticipated firms are now ready to reengage with public capital," Liu added, noting that investor appetite is returning, especially for companies with well-defined business models in strategic sectors such as fintech, AI and digital Winklevoss twins shot to fame after they sued Facebook and its CEO Mark Zuckerberg, alleging he had stolen their idea for the social networking site. They agreed to a settlement in 2008, in which they received cash and Facebook MOMENTUMThe global cryptocurrency market is currently valued at roughly $3.3 trillion with bitcoin trading firmly above the key $100,000 apiece milestone, according to data from CoinMarketCap."A successful listing would confirm that the crypto thaw is real," said Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors. "If equity underwriters smell a new fee stream, expect the calendar to unfreeze for everything from fintech to AI chips."The industry, particularly after the approval of spot bitcoin ETFs in the U.S., has attracted billions in inflows from institutional investors seeking exposure to the asset May, Coinbase became the first U.S. crypto-focused company to join the S&P 500, a watershed moment for the the crypto sector matures financially and gains regulatory footing, firms are becoming more integrated into traditional marks a sharp turnaround for an industry that spent more than a decade under intense regulatory scrutiny the collapse of crypto exchange FTX in 2022, many institutional investors retreated from the digital asset market. Prices later recovered, and the sector gained fresh momentum when U.S. President Donald Trump voiced support during his campaign, pledging to be a "crypto president."
Crypto Insight
10-05-2025
- Business
- Crypto Insight
Gemini to launch crypto derivatives in Europe with new license
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has received regulatory approval to expand crypto derivatives trading across Europe. Gemini secured a Markets in Financial Instruments Directive II (MiFID II) license from the Malta Financial Services Authority (MFSA), allowing the exchange to offer crypto derivatives in the European Union, it announced on May 9. 'Once we commence business activities, we will be able to offer regulated derivatives throughout the EU and EEA [European Economic Area] under MiFID II,' said Gemini's head of Europe, Mark Jennings. According to the exec, the MiFID II license is a big milestone in Gemini's European expansion, putting it one step closer to offering derivatives to both retail and institutional users. Advanced traders will get perpetual futures Gemini's upcoming derivatives offering in the EU and EEA will include perpetual futures and other derivatives, which will be available to advanced users of Gemini, Jennings noted. 'Over the coming months, we will be working toward meeting the required conditions to launch these products across Europe,' he added. According to MFSA records, Gemini's Maltese entity, Gemini Intergalactic EU Artemis, was issued a license on May 8. MiCA license yet to be issued Gemini's latest license builds on the growing regulatory progress of the US-based exchange in Europe. In January, Gemini officially announced that it would choose Malta as its hub for compliance with the European Union's Markets in Crypto-Assets (MiCA) framework. The move came shortly after Gemini received its sixth European virtual asset service provider (VASP) registration from the MFSA in December 2024. However, the exchange has not yet obtained full MiCA licensing. Derivatives are a hot trend in crypto Gemini's upcoming crypto derivatives launch in Europe is yet another milestone in a growing trend toward derivatives in the global crypto industry. Coinbase, the biggest crypto exchange in the US by trading volume, on May 8 announced the $2.9 billion acquisition of Deribit, one of the world's largest crypto derivatives platforms. The deal came just a few days after rival exchange Kraken confirmed plans to purchase the derivatives trading platform NinjaTrader to offer futures trading on May 1. The firm previously said it had agreed to acquire NinjaTrader for $1.5 billion. Source:
