Gemini moves engineering operations to India amid US crypto war
The Gemini crypto exchange is the latest to look at an expansion in Asia with a move to India as the US war on crypto continues.
The Winklevoss twins’ crypto exchange Gemini has announced the expansion of its global engineering and operations teams.
On April 20, Gemini revealed that it opened a new office in Gurgaon, India. It is the latest major US crypto company to make a move offshore amid an ongoing industry crackdown.
Newly appointed Gemini Asia Pacific CEO Pravjit Tiwana said the India office would be the second largest Gemini engineering hub behind the US
The Gemini crypto exchange remains US-based for now, but that could change if regulatory enforcement continues. In late March, Gemini announced the launch of an international crypto derivatives platform.
However, moving the engineering team to India will result in talent leaving US shores. Tiwana said:
“We are actively hiring software engineers and technical product managers to work from our Gurgaon office alongside other key roles including human resources and talent acquisition, finance, support and compliance.”
The twins of India
Tiwana confirmed that the Gemini engineering, design and operations team in India would make significant contributions in several areas. These include the development of next-generation web and mobile user experiences. He said there would also be work on compliance, data pipelines, storage, security and payments.
New feature sets for the firm’s NFT and crypto asset marketplaces will also be developed in India.
The decision not to move the exchange to India could be due to the fact that crypto regulations remain in limbo. The central bank has a lot of disdain for digital assets, and the government has yet to fully embrace them.
But things are slowly moving forward in India. Earlier this month, India’s finance minister proposed the development of a common crypto framework for G20 countries.
Coinbase Eyeing Offshore Operations
On April 19, Coinbase announced an offshore move after obtaining a license to operate in Bermuda.
Earlier this week, chief executive Brian Armstrong said: “Everything is on the table, including relocation or whatever is necessary.” His comments refer to the lack of regulatory clarity in the US and the SEC’s mission to crush the embryonic digital asset industry.
Gemini has already been targeted by the SEC for securities law violations related to the Gemini Earn program.
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