Gemini Plans to Get Licensed in UAE

Gemini, the crypto exchange owned by the Winklevoss twins, has started the application process for obtaining a service license in the United Arab Emirates (UAE).

Cameron and Tyler Winklevoss expressed the motivation for this step after noting the “hostility and a lack of clarity” concerning crypto regulations in the United States, as stated in a blog post published on May 31.

On their recent conversation with Abu Dhabi-based news outlet The National, the co-CEOs expressed their enthusiasm for the UAE’s move to become a hub for crypto with the enactment of “thoughtful regulation.”

As of now, the Winklevoss brothers have not yet decided on the HQ location, but it could be set up in both Dubai and Abu Dhabi.