Gemini, the cryptocurrency exchange owned by the Winklevoss twins, has secured its position in the Canadian market by filing for pre-registration with the Ontario Securities Commission (OSC), a state regulator in the country. Once approved, Gemini will become a restricted dealer with the OSC.
The registration came as OSC mandated the registration of all crypto exchanges operating within its jurisdiction. Existing crypto exchanges must pre-register with the regulator while preparing to gain full registration.
“As one of the most important and developed markets in the Americas, Canada has played an essential role in Gemini’s international expansion,” Cynthia Del Pozo Garcia, Gemini’s Director of Strategy and Corporate Development, wrote in a blog post.
Gemini is among several other major crypto exchanges, including Crypto.com and Kraken, that filed for pre-registrations with the Ontario regulator. The Canadian regulator also flagged and fined a few other crypto exchanges for operating without any approval.
Recently, Paxos folded its operations in Canada, mentioning it would “assess its readiness to re-enter the Canadian market in cooperation with the OSC at a future date.”
Meanwhile, the Canadian Securities Administrators also mandated the registration of all cryptocurrency exchanges in the country, the deadline of which has already passed on March 24. Other crypto platforms…
