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Winklevoss Twins Explore UK For Gemini Amid Regulatory Uncertainity In US

Winklevoss twins are looking to invest heavily in the UK amid regulatory uncertainity in the United States.
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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.

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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.

 

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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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Jai Pratap

Jai Pratap is a Crypto and Blockchain enthusiast with over three years of working experience with different major media houses. His current role at CoinGape includes creating high-impact web stories, cover breaking news, and write editorials. When not working, you'll find him reading Russian literature or watching some Swedish movie.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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