Gemini Intends to Launch Internationally Oriented Crypto Derivatives Platform

Gemini is reportedly planning to launch an international crypto derivatives platform. According to The Information, sources have stated that the company will register a new service outside the US, allowing clients to access perpetual futures, which are banned in the US due to their being deemed high-risk assets.

On June 2022, the CFTC sued Gemini for allegedly misleading the regulator regarding Bitcoin futures contracts.

On March 27, 2023, the CFTC filed a civil lawsuit against Binance and its CEO, Changpeng Zhao, for unregistered derivatives trading and failure to comply with anti-money laundering regulations.

Additionally, the SEC accused Gemini of unlicensed trading in securities through their Earn service, suspending payments under the program due to the financial problems of their main partner, OTC platform Genesis Global Capital.

Tyler Winklevoss, co-founder of the crypto exchange, called the SEC allegations “super flimsy” and “a trumped-up penalty ticket.”