Gemini has announced the launch of its cryptocurrency services in France

BlockBeats News, November 19, according to TheBlock, the U.S. cryptocurrency exchange Gemini announced the launch of its services in France after obtaining a Virtual Asset Service Provider (VASP) license. Gillian Lynch, CEO of Gemini Europe and the UK, stated that France's supportive regulation of the crypto industry and the growing market interest have provided a unique opportunity for the company to expand in the European market.

According to Gemini's 2024 Global Crypto Report, France is one of the countries with the fastest-growing crypto asset holders, with a 2% increase in the proportion of cryptocurrency holders since 2022, reaching a holding rate of 18%. It is worth noting that several exchanges, including Gemini, had previously exited the Canadian market due to regulatory tightening, while France has attracted more market participants due to the MiCA reform and its focus on consumer protection. Additionally, France is home to significant industry projects like Ledger.

BlockBeats Note: MiCA stands for the EU's Markets in Crypto-Assets Regulation, which was developed by the European Commission to address the rapid growth of the crypto asset market. It aims to ensure financial stability, protect investors, and promote the comprehensive transformation of the crypto asset industry. MiCA came into effect in June 2023, with some provisions (such as those relating to Asset-Referenced Tokens and E-Money Tokens) starting to apply in June 2024, while other provisions will be fully applicable by December 2024.