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Gemini Expands into UAE Crypto Market with Acquisition of License

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has announced its plans to expand into the United Arab Emirates (UAE). The decision was influenced by the increasing interest in cryptocurrencies among UAE citizens and favorable conversations with regulators. Gemini plans to acquire a crypto service license to operate within a regulated framework. The UAE market offers potential for growth, with more than 35% of surveyed individuals in the UAE already owning cryptocurrencies and a willingness to use them for in-person purchases. Gemini's commitment to complying with regulations and operating transparently is expected to bring greater accessibility and opportunities for individuals in the UAE to engage with cryptocurrencies.

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