Gemini Expands Australia Push as New Crypto Rules Loom

Core Insights - Gemini has secured formal registration with AUSTRAC, Australia's anti-money laundering regulator, allowing it to enhance its services in Australia as new regulations for crypto exchanges are implemented [1][2] - The Australian government is moving towards stricter oversight of crypto firms, requiring them to obtain licenses under the Corporations Act [2] - Gemini's expansion into Australia is driven by the country's strong market potential and the company's commitment to regulatory compliance [3][6] Company Developments - Gemini Intergalactic Australia, Pty Ltd is now registered with AUSTRAC, enabling the exchange to offer crypto services locally [1] - The exchange has appointed James Logan as Head of Australia, who has prior experience in expanding digital asset access [4] - Australian users can now trade directly in Australian dollars, utilizing local banking integrations such as NPP and PayID, which simplifies transactions [4] Competitive Positioning - Gemini aims to differentiate itself in the competitive Australian crypto market by emphasizing its liquidity, regulatory rigor, and brand trust [5] - The company positions itself as a responsible operator, contrasting with less regulated entities in the crypto space [5][6] Future Plans - Gemini is applying for an Australian Financial Services License from ASIC to expand into regulated products, including derivatives for wholesale clients [6]