In a Zawya exclusive interview, GEMINI, digital asset exchange founders expressed their interest in applying for a license in UAE. As per the article US crypto exchange Gemini, is interested in a license in UAE because of the hostility and lack of clarity in the USA. Several other global virtual asset service providers have already expressed their interest as well including Coinbase, Bittrex, IoTa, and Circle.
The license application is set to come after meetings in both Dubai and Abu Dhabi.
Cameron and Tyler Winklevoss are the founders of GEMINI. Tyler told zawya, “There is a lot of customers and amazing investors here.” As for the USA, Tyler told Zawya it as hard to get things done in the US.
He added, “You don’t want the Wild West, but you also don’t want a wall or a gate to innovation, getting that balance right builds the healthiest markets. We have always believed that, and always tried to get that message across to the regulators to provide that clarity and consistency in guidelines, because we think that the outcomes are just so positive.”
Prior to this Gemini announced that it was launching its European HQ in Dublin. But Tyler affirmed to Zawya that Gemini would not be giving up on the USA.
This would make Gemini the latest global entity to see regulation in UAE, over the past two months, entities such as CoinBase, IoTa, Circle, Bittrex, have all expressed their interest to set up in the UAE.
This is being further pushed with the new UAE Central Bank’s AML CFT guidance for financial entities regarding their dealings with virtual asset service providers.