The exchange is gearing up for a full-scale launch of its platform for French users, aiming to complete all necessary preparations in the coming weeks. Once live, Gemini plans to provide French investors access to a diverse portfolio featuring over 70 cryptocurrencies, accessible through both its website and mobile app. Furthermore, the more advanced ActiveTrader platform will also be available.
Gemini's expansion into the European Union market aligns with a broader trend observed among major U.S. crypto firms, who increasingly explore opportunities in Europe due to the stringent regulatory framework in the United States, particularly actions by the Securities and Exchange Commission (SEC) affecting the crypto sector.
It's essential to note that Gemini, along with another crypto lending entity, Genesis, faced legal challenges with the SEC last year. Allegations were made regarding the offering of unregistered securities through the Gemini Earn program, which promised significant returns. Despite this, Gemini maintains its stance that its interest-earning products do not fall under securities and is actively contesting the SEC's lawsuit with the aim of getting it dismissed.