Gemini moves engineering operation to India amid US crypto war

[ad_1]

Crypto exchange Gemini is the latest to consider expanding into Asia with a move to India as the US war on crypto continues.

Twins crypto exchange Winklevoss Gemini has announced the expansion of its global engineering and operations teams.

On April 20, Gemini revealed that it was opening a new office in Gurgaon, India. It is the latest major US crypto company to launch overseas amid an ongoing industry crackdown.

Gemini Asia Pacific’s new CEO, Pravjit Tiwana, said the India office would be the second-largest Gemini engineering center behind the United States.

Crypto exchange Gemini remains US-based for now, but that could change if the regulatory enforcement crackdown continues. At the end of March, Gemini announced that it was launching an international crypto derivatives platform.

However, the relocation of the engineering team to India will result in the departure of talent from American shores. Tiwana said:

We are actively recruiting Software Engineers and Technical Product Managers to work from our Gurgaon office with other key roles including HR and Talent Acquisition, Finance, Support and Compliance.

Gemini in India

Tiwana confirmed that Gemini’s engineering, design and operations teams in India will make significant contributions in several areas. These include the development of its next-generation web and mobile user experiences. He added that there would also be work on compliance, data pipelines, warehousing, security and payments.

New feature sets for NFT businesses and crypto asset marketplaces will also be developed in India.

The decision not to move the exchange to India may be due to crypto regulations remaining in a state of uncertainty. The central bank harbors a lot of contempt for digital assets, and the government has yet to fully embrace them.

However, things are moving slowly in India. Earlier this month, India’s finance minister proposed the development of a common cryptographic framework for G20 countries.

Coinbase is considering offshore operations

On April 19, Coinbase announced an offshore move after securing a license to operate in Bermuda.

Earlier this week, CEO Brian Armstrong said: “Everything is on the table, including moving or whatever is necessary. His comments refer to the lack of regulatory clarity in the United States and the SEC’s mission to crush the embryonic digital asset industry.

Gemini has previously been targeted by the SEC for securities law violations related to its Gemini Earn program.

Disclaimer

In accordance with the guidelines of the Trust Project, BeInCrypto is committed to providing impartial and transparent reports. This news article aims to provide accurate and timely information. However, readers are urged to independently fact-check and seek professional advice before making any decisions based on this content.

[ad_2]