• Gemini, a U.S.-based crypto exchange, announced plans to open an office in India amid uncertainty and fear of SEC enforcement in the U.S. crypto regulatory landscape.
• This will be the fourth international office for Gemini, joining other offices in the United Kingdom, Ireland, and Singapore.
• The Gurgaon office is set to serve as a hub for engineering and design and has open roles in engineering, product management, human resources, finance, support, and compliance.
Gemini Plans International Expansion
The United States crypto regulatory landscape is uncertain as Congress is yet to deliver a comprehensive regulatory framework. The situation worsens as regulators like the U.S. Securities and Exchange Commission (SEC) remain bent on asserting jurisdiction over crypto markets through enforcement. Lingering uncertainty and fear of SEC enforcement have led to growing concerns that U.S.-based crypto businesses could focus efforts abroad.
Gemini Opens Fourth International Office
In the latest instance, one of the leading U.S.-based crypto exchanges, Gemini, announced plans to expand its growing list of international offices amid a legal tussle with the SEC by opening its fourth international office in Gurgaon, India. This facility will be Gemini’s second-largest engineering facility behind their one in the U.S., serving as a hub for engineering and design with open roles in engineering, product management, human resources finance support and compliance available for hire already at this time..
Big Plans for International Growth
To accompany this new expansion into India is also Chief Technology Officer Pravjit Tiwana’s new role as Chief Executive Officer of Gemini’s Asian Pacific (APAC) region which shows that there are indeed “big plans for international growth this year” from them according to their blog post announcement on Thursday April 20th 2021 about this news.. Additionally there were reports from The Information back in March that suggest that they are also planning on launching an internationl derivatives exchange too..
Enforcement Efforts Hurt Innovation
A venture capitalist says the SEC’s crypto enforcement efforts hurt U.S innovation further suggesting that more firms may look outside of America if they feel too much pressure form US regulations.. Coinbase another leading US based cryptocurrecy firm has revealed similar plans after obtaining licensees Bermuda showing that indeed companies are looking elsewhere than just America due to these issues with regulation..
Overall it appears that not only Gemini but many other cryptocurrency companies are starting to move away from American regulation out of fear or potential consequence due to lack or clear cut regulations from Congress when it comes to cryptocurrencies within America at present..