The cryptocurrency market is expanding rapidly, with always something new emerging in it. With this rapid expansion, many countries are also creating new laws and regulations to increase transparency in the cryptocurrency market. One such expansion, which is the talk of the town nowadays, is Gemini’s Australian Arm. Gemini’s expansion in Australia has strengthened the country’s position in the cryptocurrency world and made it a legitimate asset for digital trading.

​Gemini has been available to Australian users since 2019 with offering trading on limited assets. But now it is expanding in the country with the launch of the new locally registered entity. An entity has been created and registered with the Australian Transaction Reports and Analysis Center (AUSTRAC) for this purpose. Its main aim is to provide access to local payment rails in Australia. So now Australian traders can trade cryptocurrency using the Australian local currency, AUD. James Logan has been appointed as the head to carry out the Gemini Australian arm operation in Australia.

Saad Ahmed, the head of Gemini Asia Pacific said:

“ Australia’s crypto penetration is “quite significant, somewhere in the range of 23 to 25%” which leaves the exchange with “headroom for growth.””

“We’re changing that because we think Australia is a market that we want to be in, and it’s a market that we want to grow, so we’re going to build a local team here”.We’re not going to have all of the products that we offer in the US, for example, the credit card and staking, out of the gate, but we’re working on it.” 

He further said they will observe how government consultation will overhaul the country’s crypto laws.

“There’s going to be some back and forth between the industry and the government for some time. We will probably take the position of just observing and seeing how things play out over the next few months.”

“There is limited upside for us to respond to the laws that have come out. There is an existing ecosystem here, we’re somebody new that’s coming in, and we just want to make sure that we’re building and focusing on our customers.”

“We are confident that whatever regulation comes into effect, we will be well prepared for it and we will be able to comply with it”: said Ahemd.

In Australia, the Australian Transaction Reports and Analysis Center (AUSTRAC) and Australian Securities and Investments Commission (ASIC) are actively supervising the country’s digital assets. The government is focusing on anti-money laundering and consumer protection with the aim to develop a secure and transparent crypto ecosystem. And no doubt the Gemini’s expansion in the country has a significant role in ensuring regulatory compliance trust among the Australian traders..

Why Gemini’s Australian Arm Is a Big Win for Crypto Regulation

The Gemini Australian arm is considered a big win for crypto regulation because it is formally registered with AUSTRAC and the Australian anti-money laundering authority showing its commitment towards regulatory compliance. It is a great move in building a trusted, localized crypto ecosystem by ensuring transparency and  protecting investors.

​It supports local currency trading, which means traders can easily trade using Australian currency. Gemini’s Australian arm initiative encourages other exchanges to adapt similar standards to create a trusted crypto trading ecosystem. It sets a great example of how to strengthen collaboration between crypto and regulatory firms. Last but not least, Gemini Australia’s arm has placed Australia as a leader in crypto compliance.​

The launch of Gemini’s Australian operations is an important step in legitimizing cryptocurrency within the country. It demonstrates that  adapting regulations is a way to earn users’ trust, bring stability, and get mainstream adoption. It not only strengthens investors’ confidence but also shows that digital assets can be safely integrated into financial systems.

​About Gemini Cryptocurrency Exchange

Gemini cryptocurrency exchange, also known as Gemini Space Station, is a crypto exchange founded by Tyler Winklevoss and Cameron in 2014. This exchange was announced in June 2013, but the company started its operation in October 2015. It supports the purchase and storage of Bitcoin.​

What makes Gemini the most trusted and rapidly adapted by people is that it has a system of private keys and a password-protected environment, which makes transactions secure. The company has established itself as a secure digital asset platform, ensuring transparency and compliance with regulatory laws.

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