PANews, November 19 - US cryptocurrency exchange Gemini announced the launch of operations in France after obtaining a license as a Virtual Asset Service Provider (VASP) in the country. Gillian Lynch, CEO of Gemini Europe and the UK, stated that France's supportive regulation of the crypto industry and growing market interest provide a unique opportunity for the company to expand in the European market. According to Gemini's 2024 Global Crypto Status Report, France is one of the fastest-growing countries in terms of crypto asset holdings, 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, previously exited the Canadian market due to tightening regulations, while France has attracted more market participants due to the MiCA reforms and emphasis on consumer protection. Additionally, France is home to important industry projects such as Ledger.