4-4-2025 – The Winklevoss-helmed cryptocurrency exchange Gemini is set to establish a foothold in Miami’s vibrant Wynwood Art District, marking a pivotal moment as the firm appears to be navigating through its regulatory challenges with the US Securities and Exchange Commission.
Sterling Bay Properties confirmed on 31 March that the digital asset platform has secured office premises in the flourishing arts neighbourhood, complementing its existing operational bases in New York and Europe. Industry observers anticipate the exchange will commence operations at its new Florida premises by May.
The timing of this geographical expansion coincides with potentially positive developments in Gemini’s regulatory landscape. A federal judge has imposed a 60-day pause on the SEC’s legal proceedings against Gemini Global Capital, allowing both parties to pursue potential settlement discussions. The regulatory body had initiated enforcement action in January 2023, contending that the firm’s Gemini Earn programme constituted an unregistered securities offering.
The exchange’s regulatory matters appear to be reaching resolution on multiple fronts. Cameron Winklevoss recently disclosed that the SEC had concluded a separate investigation into the company. Additionally, Gemini reached a settlement with the US Commodity Futures Trading Commission, agreeing to remit $5 million over alleged misrepresentations concerning its 2017 Bitcoin futures contracts initiative.
Miami’s emergence as a cryptocurrency hub has attracted numerous blockchain enterprises, with Ripple Labs maintaining offices in Wynwood and MARA Holdings establishing its mining operations headquarters in nearby Fort Lauderdale. The state’s crypto-friendly regulatory framework and absence of personal income tax have proved particularly appealing to industry participants.
Reports suggest Gemini has discretely initiated proceedings for an initial public offering, revisiting earlier considerations from 2021, when the firm had contemplated joining other American cryptocurrency companies in public markets.
