- Founders have already met with regulators in England
- Gemini stresses the uncertainty of regulators in the United States
- The exchange has no intention of leaving the United States
Cryptocurrency company Gemini plans to establish a second UK headquarters.
The Winklevoss brothers, co-founders of the exchange, cited an uncertain regulatory environment in the U.S. as one reason for the company’s possible expansion.
The founders have reportedly already held meetings with the Financial Conduct Authority (FCA) and the Bank of England as part of a plan to expand the company’s presence outside the United States.
Cameron Winklevoss said:
“There are so many obstacles in the United States right now that it is difficult to do anything there.
So in order to continue to build our business and hire employees, we have to look elsewhere.”
Cameron also gave an assessment of the cryptocurrency market in England. He suggested that someday the company might have more employees outside the U.S.
But even with all that said, Gemini has no plans to leave the U.S. and intends to keep fighting for a foothold there.
“We are not going to leave the U.S., we are going to keep fighting the good fight there. But we also understand that you can vote with your feet.”
The Philippine Securities and Exchange Commission recently reported that Gemini’s recently launched derivatives platform was probably operating without authorization in a jurisdiction.