Gemini announces launch of operations in France, having previously obtained a VASP license

Gemini, a US cryptocurrency exchange, announced the launch of its business in France, having previously obtained a French Virtual Asset Service Provider (VASP) license. Gillian Lynch, CEO of Gemini Europe and the UK, said that France's supportive regulation of the crypto industry and growing market interest provide the company with a unique opportunity to expand in the European market. According to Gemini's 2024 Global Crypto State Report, France is one of the countries with the fastest growth in crypto asset holdings, with the proportion of cryptocurrency holders increasing by 2% since 2022, reaching a holding rate of 18%. It is worth noting that Gemini and other exchanges have previously withdrawn from the market due to tightened Canadian regulations, while France has attracted more market participants due to MiCA reforms and its emphasis on consumer protection. In addition, France also has important industry projects such as Ledger.