Gemini Crypto Exchange Expands Abroad Amid SEC Crackdown

  • Gemini, a U.S.-based crypto exchange, announced plans to expand its growing list of international offices amid a legal tussle with the SEC.
  • Gemini revealed plans to launch its fourth international office in Gurgaon, India, serving as a hub for engineering and design.
  • Coinbase has also revealed similar plans after obtaining a license in Bermuda.

Gemini Expands Internationally

The United States crypto regulatory landscape is uncertain and the SEC remains bent on asserting jurisdiction over crypto markets through enforcement. This has caused lingering uncertainty and fear of SEC enforcement which has led to growing concerns that U.S.-based crypto businesses could focus efforts abroad. In the latest instance, one of the leading U.S.-based crypto exchanges, Gemini, announced plans to expand its growing list of international offices amid a legal tussle with the SEC.

India Office & Expansion Plans

Gemini revealed plans to launch its fourth international office in Gurgaon, India, in a company blog post on Thursday, April 20. The Gurgaon office is set to serve as a hub for engineering and design and will join other international offices in the United Kingdom, Ireland, and Singapore. Gemini also announced Chief Technology Officer Pravjit Tiwana’s new role as chief executive officer of Gemini in the Asian Pacific (APAC) region with “big plans for international growth this year in APAC”.

SEC Charges Against Gemini

This year, Gemini was among the first crypto firms to land in the markets regulator’s crosshairs when they were charged by the SEC with breaking U.S Securities laws due to their “Earn Program” which was alleged to be an unregistered securities offering by January this year.

Coinbase Reveals Similar Plans

In March The Information reported that Gemini planned to launch an international derivatives exchange however Coinbase another leading U.S.-based crypto exchange has also revealed similar plans after obtaining a license in Bermuda.

Conclusion

The expansion of both Gemini and Coinbase into foreign markets reflects not only their ambition as companies but also demonstrates how uncertain regulations are making it difficult for cryptocurrencies-related firms at home resulting in them looking abroad for opportunities instead .