Winklevoss Twins Explore UK For Gemini Amid Regulatory Uncertainity In US
Winklevoss Twins are looking at the UK to ground their crypto empire amid hostile climate in the United States.
Crypto exchange Gemini founders Tyler and Winklevoss twins revealed that they met officials at the Financial Conduct Authority and Bank of England. The twins are actively scouting locations to focus Gemini’s investment in the country.
Hard to get anything done in the US: Winklevoss Twins
Blaming the US regulator’s hostile approach towards crypto, Winklevoss twins told The Telegraph there are so many headwinds right now that it’s hard to get anything done. “And so in order to keep building our business and invest in hiring, we have to look elsewhere,” Cameron Winklevoss added.
Gemini co-founder further said that they see a point in the future where they have a larger headcount outside of the US than in the US, and there’s probably a jurisdiction or country that … maybe is larger than the US.
Read More: U.S. Congress Erupts In Heated Debate Over Stablecoin Regulation
The crypto billionaires revealed that they are looking to invest heavily in the UK. “Whether you want to call that a second headquarters or global headquarters, we very much are looking at places like the UK and understanding how do we invest more here,” Ca,meron Winklevoss said.
Gemini is not leaving the US
The Winklevoss twins have no intention to leave the US despite actively growing outside of the country’s borders. “We’re going to continue to fight the good fight there. But we also understand that you can vote with your feet, and that’s our right and we will do that when faced with a hostile environment,” Cameron added.
However, the twins warned that they have some reservation regarding the inconsistent attitude towards cryptocurrency companies in Britain, highlighting a recent report from MPs that compared the sector to gambling. Crypto billionaires, who once sued Mark Zuckerberg over Facebook, said they have expressed concerns regarding inconsistency as they are looking to continue to double down on this market.
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