Gemini Expands in Asia-Pacific

Gemini, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss in the United States, has announced expansion intentions for the Asia-Pacific region.

In a blog post dated 19 June, Gemini announced plans to increase the number of employees at its Singapore office and establish an engineering division in India.

The cryptocurrency exchange alluded to “larger” expansion plans in the region over the next 12 months.

“We believe that APAC will be a great driver of the next growth wave for crypto and Gemini,” the exchange said.

In January, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Gemini over its “Gemini Earn” program.

The SEC alleged that the exchange’s product, offered in partnership with Genesis, violated U.S. securities laws by allowing users to lend crypto assets to Genesis.

Gemini seemed to be examining other markets as a response to the massive crackdown on cryptocurrency firms that has been taking place in the United States.

The exchange started the process of registering to become a restricted dealer in April with the Ontario Securities Commission in Canada, which is one of the critical financial regulators in that country.

The Winklevoss twins announced in May that they would be expanding their company’s services throughout Europe from a facility in Ireland, which they stated was their top choice.ce.