Gemini continues to work with Genesis to help Gemini Earn users to redeem their funds alongside announcing new expansions in Europe.
The new registrations, combined with Gemini’s electronic money institution, officially allow the exchange to provide crypto services to their customers in Italy and Greece. The approvals also aim to demonstrate Gemini’s compliance with applicable Italian and Greek Anti-Money Laundering and Counter Terrorist Financing regulations.
As of November 2022, Gemini operates in more than 65 countries, including new jurisdictions like Croatia, Cyprus, Czech Republic, Denmark, Hungary, Ireland, Latvia, Liechtenstein, Portugal, Romania, Slovenia, Sweden and others, the firm said. The latest registrations came before Gemini encountered major issues on its lending platform known as Gemini Earn, which is designed to allow investors to get 8% in interest by lending their cryptocurrency. The product has reportedly
withdrawals due to its connection with the troubled crypto trading firm Genesis Global Capital, with Gemini allegedly having $700 million of customer money locked in it.
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