A Strategic Move for Regulatory Certainty
On 25th January 2025, Gemini, a leading cryptocurrency exchange and custodian founded by the twin brothers Tyler and Cameron Winklevoss, announced that it would establish its European headquarters in Malta rather than Ireland. This move reinforces Malta’s position as a premier hub for digital assets. Gemini, known for its strong regulatory compliance and secure digital asset services, was valued at approximately $7.1 billion after a $400 million investment in November 2021. The company’s estimated annual revenue is around $274.8 million. The decision to relocate its European base to Malta reflects confidence in the country’s fintech ecosystem and regulatory framework.
Malta’s Early Adoption of Crypto Regulations
Malta’s early adoption of virtual financial asset legislation, including the Virtual Financial Assets Act (enacted in 2018), has been instrumental in attracting digital asset firms by providing a stable and transparent regulatory environment. In contrast, Ireland’s slower approach to crypto regulation has raised concerns about its ability to maintain its status as a European hub for the industry. This lack of regulatory clarity has prompted major players, including Gemini, to relocate their European headquarters to jurisdictions like Malta, where a well-defined legal framework and supportive business environment foster long-term growth. Additionally, the Malta Financial Services Authority (MFSA) has accumulated significant experience in supervising and managing crypto activities, further solidifying the country’s reputation as a fintech leader.
The Markets in Crypto-Assets Regulation (MiCA) strengthens this foundation by providing a unified legal framework across the EU, allowing registered firms to operate seamlessly across the European Economic Area. By setting clear standards for compliance, consumer protection, and market integrity, MiCA enhances stability and boosts investor confidence in the crypto industry.
Industry Confidence in Malta’s Framework
Mark Jennings, European head of Gemini, stated: “MiCA is a much-needed regulatory development for the European crypto community. Our decision to establish Malta as our MiCA hub reflects our commitment to supporting regulatory standards, promoting innovation, and shaping the future of digital assets in Europe. We hope it serves as a model for cryptocurrency regulation at a global level.”
Malta’s proactive regulatory approach has made it an attractive location for other major players in the crypto industry. Bybit, Kraken, Uphold, Gate.io, and eToro have all established operations in Malta, managing their European businesses under MiCA regulations. Following in the footsteps of OKX, which made a similar move in July 2024. This expertise, bolstered by the Malta Financial Services Authority (MFSA), has played a crucial role in ensuring compliance and fostering trust in the sector. Gemini has recognised Malta’s regulatory advantages and chosen the island as its European base.
Finance Malta’s Role in Global Expansion
Industry leaders, including FinanceMalta COO Graziella Grech, see Gemini’s move as an endorsement of Malta’s advanced financial infrastructure. With a thriving tech sector and early adoption of crypto legislation, Malta continues to attract major industry players.
FinanceMalta, a key promoter of the nation’s fintech sector, continues to draw investment through international engagement, reinforcing Malta’s reputation as a global financial hub. “A lot of important work is being done which underscores FinanceMalta’s commitment to strengthening the country’s presence on the global financial stage and to make our jurisdiction an attractive proposition to new international investors and operators,” said Graziella Grech.
Looking Ahead: Malta’s Global Crypto Presence
Throughout 2025, Finance Malta is set to participate in 35 high-profile international events, including major global conferences such as Money 20/20 in Amsterdam, the ESG Europe Summit in Vienna, and the Guildhall in London. With clear legislation and a growing fintech ecosystem, Malta is set to remain a preferred choice for crypto and digital asset firms.
Expatax offers regular updates on the latest crypto regulations and developments in Malta, keeping expats informed on key changes in the sector.
Sources
Markets in Crypto-Assets Regulation
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