Crypto exchange Gemini has managed to obtain an electronic money license from the Central Bank of Ireland, making it the 18th entity successfully acquiring the license. 

Specifically, the granted license – the first from October last year up to now – will reportedly sit Gemini together with numerous big-name license holders, nominally Coinbase, Stripe, Square, and Meta. 

The e-money license – for which Gemini submitted an application early two years ago and received on March 14th this year – will reportedly grant it legal authority to issue electronic money, offer electronic payment services, and finalize electronic payments for third parties. 

It will further make it possible for the firm to passport those services to European Economic Area nations, which are European Union members, Iceland, Liechtenstein, and Norway. 

Gemini already established its shop in the above-mentioned nations. 

Gemini additionally caters to exchange and e-money services in the United Kingdom, thanks to the previously granted greenlight from that country’s Financial Conduct Authority.

Developing consciousness in the nation of the need for cryptocurrency regulation is visible. 

The Oireachtas Finance Committee adopted a positive stance towards considering regulation in February when it submitted the request for briefing documents from the Central Bank and the Revenue Commissioners tax authority.  

The Central Bank already made it mandatory for European Anti-Money Laundering laws to be applicable for virtual asset services providers.

Ireland has reportedly witnessed a rising trend when it comes to crypto presence in 2021. Gemini established its Dublin office in early last year, welcoming onboard Gillian Lynch, a former executive at the Irish banking platform Leveris and Bank of Ireland, as head of Ireland and Europe.