Gemini's decision to select Malta over Ireland highlights increasing frustrations within the crypto industry regarding Ireland's regulatory delays, risking its status as a European hub for crypto developments.
Mark Jennings, the newly appointed head of Europe for Gemini, noted that the biggest challenge facing global exchanges is building compliant custody offerings, emphasizing the need for significant infrastructure to support MiCA.
With Malta now being chosen as its regulatory hub, Gemini may relocate key roles from Dublin, intensifying competition in the European crypto regulatory landscape at an essential moment.
The Irish Central Bank's slow recruitment of consultants to advise on crypto regulation suggests a lack of urgency, raising concerns among industry executives about Ireland's commitment to fostering a thriving crypto environment.
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