Wednesday, October 28, 2020

Former Morgan Stanley exec joins Gemini crypto exchange

Must Read

Malaysian Securities Commission issues revised digital asset guidelines

The Securities Commission Malaysia has issued revised guidelines governing digital assets, effective as of Oct. 28. These are intended to regulate initial exchange offerings,...

Bitcoin fees spike 198% but Ethereum still more profitable

Bitcoin (BTC) transaction fees have nearly tripled in three days, from $3.52 to $10.20 on average.According to crypto market data aggregator Glassnode, 22.25% of...

‘A Race Toward Zero’: With Hashrate in the Clouds, Bitcoin Mining Is Less Profitable Than Ever

Bitcoin mining profitability is in the basement, seeing all-time lows in 2020.Conversely, Bitcoin's hashrate has surged throughout 2020, propelled in part by mining farms...

‘Convincing’ Phishing Attack Targets Ledger Hardware Wallet Users

Customers of Ledger, the hardware cryptocurrency wallet, are being targeted by a phishing attack posing as an email from Ledger support. The fake email ostensibly...

Major American cryptocurrency exchange Gemini is expanding the company’s business in the Asia-Pacific region with a new high-profile hire.

Andy Meehan, a former executive at major American investment bank Morgan Stanley, has joined Gemini as chief compliance officer of the APAC region.

Announcing the news on Oct. 7, Gemini executives noted that Meehan will work with regulators to promote smart regulations that drive adoption.

Formerly head of legal for Morgan Stanley’s global financial crimes division in the APAC, Meehan will now shape strategy, product and operations of Gemini in the region. The new Gemini CCO will be based in Singapore and report directly to Gemini’s new APAC managing director Jeremy Ng.

Gemini representatives told Cointelegraph that the APAC region continues to be a key priority for the company, as it applied for a license with the Monetary Authority of Singapore under the 2019 Payment Services Act earlier this year.

Gemini’s focus on Southeast Asia follows significant regulatory developments in Singapore. Cameron Winklevoss, president and co-founder of Gemini, has previously welcomed the progress in local crypto regulations, claiming that the MAS developed “thoughtful regulation that is paving the way for further adoption and innovation.”

Gemini is expanding into new jurisdictions globally, having launched services in the United Kingdom in late September 2020.