Key Hires Power Expansion: Crypto exchange Gemini, led by twins Cameron and Tyler Winklevoss, announced its big European expansion plan with a number of strategic senior hires. Mark Jennings, Kraken’s former CEO for Europe, has joined the firm to oversee the operations in the region. He earlier worked for Citigroup and Credit Suisse, adding that this was an opportunity “to shape the future” of the nascent European digital asset market.
Joining Jennings are Daniel Slutzkin as head of the UK and Vijay Selvam as international general counsel. Slutzkin, appointed to the board of Gemini’s UK entities in December, will focus on strengthening the UK’s role in the company’s European strategy. Meanwhile, Selvam, transitioning from Gemini’s Asia-Pacific team, will manage licensing and regulatory compliance across Europe, ensuring adherence to the EU’s crypto framework.
France Operations and MiCA Compliance
Gemini officially launched operations in France in November, just 11 months after obtaining approval to operate as a Virtual Asset Services Provider (VASP). This move reflects the exchange’s focus on aligning with the European Union’s Markets in Crypto-Assets (MiCA) regulations, which came into full effect in December 2024. MiCA requires crypto service providers to secure appropriate licenses or risk operational suspension.
Dublin: Gemini’s European Headquarters
It named Dublin, Ireland, its European headquarters in 2023 after a long period of discussion with government and regulatory officials. The country’s supportive regulatory landscape has made it a popular destination for crypto heavyweights; HashKey also received VASP licenses from the Central Bank of Ireland.
Ireland has been very proactive in fostering fintech innovation-from the establishment by the government in 2018 of an innovation hub that facilitates a contact point for fintech firms with regulators. In 2022, one-third of the inquiries the hub received came from blockchain and crypto companies, further cementing Ireland’s reputation as an emerging crypto hub.
Challenges in the US
But while it is successful in Europe, Gemini struggles in the US, where increased regulatory scrutiny has resulted in a $5-million settlement with the Commodity Futures Trading Commission over charges of making false statements about Bitcoin futures contracts.
As it expands its European presence, the leadership change and compliance at Gemini reflect the commitment of the company to responsible growth in the globally maturing crypto market.
