• Gemini, a U.S.-based crypto exchange, announced plans to open a new office in India amidst concerns of SEC enforcement.
• The proposed office will serve as a hub for engineering and design, and is their fourth international office after locations in the UK, Ireland, and Singapore.
• The move follows the announcement of Chief Technology Officer Pravjit Tiwana’s new role as chief executive officer of Gemini in the Asian Pacific region – revealing “big plans for international growth this year in APAC”.
Gemini Plans Fourth International Office
The United States crypto regulatory landscape is uncertain as Congress is yet to deliver a comprehensive regulatory framework. With the SEC’s continued enforcement efforts creating lingering uncertainty and fear within the industry, leading U.S.-based crypto exchange Gemini has announced plans to open its fourth international office in India.
Gemini Expansion into Gurgaon
Gemini revealed in a blog post on April 20th that they plan to launch their fourth international office in Gurgaon, India – serving as a hub for engineering and design. The facility joins other international offices located in the United Kingdom, Ireland, and Singapore – with Gemini already hiring staff for the Gurgaon location where they are looking to fill roles across engineering, product management, human resources, finance support and compliance departments.
Chief Technology Officer Takes New Role
The news follows an earlier announcement made by Gemini regarding Chief Technology Officer Pravjit Tiwana taking on a new role as chief executive officer of Gemini in the Asian Pacific (APAC) region – suggesting “big plans for international growth this year” within this area according to The Information who reported on March that Gemini was planning to launch an overseas derivatives exchange too.
SEC Crossfire Hurting US Innovation?
The decision from Gemini comes amidst growing concerns that companies involved with crypto could be looking abroad due to SEC enforcement efforts hurting U.S innovation; with January seeing Gemis land themselves within the markets regulator’s crosshair when charged with breaking U.S Securities laws over their „Earn Program“.
In conclusion it appears that long-term uncertainty surrounding US regulations combined with increased enforcement from agencies like SEC are continuing to drive businesses away from America towards more welcoming countries abroad; such as India where regulatory frameworks appear far less hostile towards cryptocurrency firms than those found stateside currently