Gemini receives legal approval to operate in Italy and Greece. Gemini, the cryptocurrency exchange run by the Winklevoss brothers, announced the launch of new orders in Italy and Greece as part of its ongoing European expansion.
Gemini management approval in Italy and Greece
Gemini said on November 30 that it qualified as a financial administrator with Organismo Agenti E Mediatori (OAM), Italy’s payment services regulator. In addition, the Hellenic Capital Markets Commission (HCMC) of Greece authorized the cryptocurrency exchange to be a secure wallet and currency exchange provider.
According to official records, Gemini received the license from HCMC on November 7, while the OAM registration was granted on November 3.
Rights and services of cryptocurrency
Gemini is now authorized to offer cryptocurrency services to its customers in Italy and Greece thanks to its registration and authorization as an electronic money company from the Central Bank of Ireland. In addition, it is intended to obtain a license to demonstrate how Gemini has complied with all laws related to extorting Greek bailout funds and terrorist financing laws.
According to the company, Gemini is active in 65 countries as of November 2022. The latest registration was before Gemini encountered significant problems with its lending tool, Gemini Earn, which allows for investors to earn 8% lending their crypto. Due to its association with the failing cryptocurrency trading company, Genesis Global Capital, the stock has reportedly stopped allowing politics. Gemini allegedly embezzled $700 million in customer funds.