According to BlockBeats, on November 19, TheBlock reported that the US cryptocurrency trading platform Gemini announced the launch of its business in France, having previously obtained a French virtual asset service provider (VASP) license. Gemini Europe and UK CEO Gillian Lynch said that France's supportive regulation of the crypto industry and growing market interest provide the company with a unique opportunity to expand in the European market.
According to the 2024 Global Crypto State Report released by Gemini, France is one of the countries with the fastest growth in crypto asset holdings, with the proportion of cryptocurrency holders increasing by 2% since 2022, reaching a holding rate of 18%. It is worth noting that Gemini and other trading platforms have previously withdrawn from the market due to tightened Canadian regulations, while France has attracted more market participants due to MiCA reforms and emphasis on consumer protection. In addition, France also has important industry projects such as Ledger.
BlockBeats Note: MiCA is the EU (Crypto Asset Market) Regulation, which was formulated by the European Commission in response to the rapid development of the crypto asset market. It aims to ensure financial stability, protect investors, and promote the widespread transformation of the crypto asset industry. MiCA will come into effect in June 2023, and some provisions (such as the provisions on asset reference tokens and electronic money tokens) will apply in June 2024, while other provisions will be fully applicable in December 2024.
