France issues DASP license to cryptocurrency exchange Gemini and trading volume continues to rise

Cryptocurrency exchange Gemini recently received a French DASP license, which is an important milestone for the platform and means it has taken a solid step towards compliance and transparency. As regulatory authorities continue to pay increasing attention to the cryptocurrency market, obtaining a DASP license will provide Gemini with more legal protection and a basis of trust, thereby attracting more investors and traders to use the platform.

It is worth noting that Gemini’s trading volume is continuing to grow, indicating that market demand for cryptocurrencies such as Bitcoin is rising. As a leading cryptocurrency exchange, Gemini plays an important role in meeting market demands. Gemini's trading volume is expected to continue to grow as more people realize the value and potential of cryptocurrencies.

Although cryptocurrency exchanges such as Gemini have made progress in providing safe and compliant trading services, investors still need to be cautious about the risks of cryptocurrency investment. The cryptocurrency market is highly volatile, regulatory policy uncertainty, and potential technical vulnerabilities and other issues may lead to asset losses. Therefore, before investing in cryptocurrencies, investors should fully understand the associated risks and make informed decisions.

Cryptocurrency exchange Gemini, founded by twin brothers Cameron and Tyler Winklevoss, has received approval from France’s market regulator to become a virtual asset service provider (DASP). The platform is preparing to launch retail and institutional services in France within weeks, providing users with safe and reliable cryptocurrency trading and storage services. This move will further promote the development of the French digital asset market and strengthen Gemini’s competitive position globally.

According to Gemini’s announcement, Gemini has registered as a digital asset service provider (DASP) with the French financial market regulator l’Autorité des Marchés Financiers (AMF).

Gemini has established its EU headquarters in Ireland in 2022 and has operated in multiple EU countries and more than 70 countries around the world, with plans to further expand to other countries in the future.

Gemini plans to make Gemini products available to retail and institutional users in France in the coming weeks. Once launched in France, customers will be able to seamlessly trade over 70 cryptocurrencies via the Gemini website and APP.

According to data from The Block, Gemini’s spot trading volume in December 2023 was US$1.58 billion, an increase of 26.4% from the previous month.

Although January this year was only half over, the transaction volume was still US$1.31 billion. Benefiting from the listing of Bitcoin spot ETF, as one of the CMECF benchmark exchanges, BitMEX founder Arthur Hayes also said: "In order to reduce the price difference, traders will trade directly on these exchanges. .” will help Gemini’s trading business.

In addition, stablecoin issuer Circle also obtained conditional registration from the French Digital Asset Service Provider (DASP) last month and will be registered as a payment service provider (PSP). Launch business after license approval and strengthen European compliance development.

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