Gemini Expands Operations in Australia with AUSTRAC Registration
MELBOURNE, AUSTRALIA - October 9, 2025 - Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has expanded its operations in Australia after securing formal registration with AUSTRAC (Australian Transaction Reports and Analysis Centre), the country's financial intelligence agency.
According to a statement released by Gemini on Thursday, the exchange has appointed a new head for its Australian arm, who will oversee the expansion of services. The move marks a significant milestone for the company as it seeks to tap into the growing demand for cryptocurrency trading in Australia.
"We are excited to bring our platform to Australian customers and provide them with a secure and reliable way to buy, sell, and store cryptocurrencies," said Andrew Bud, Gemini's new head for Australia. "Our registration with AUSTRAC is a testament to our commitment to compliance and regulatory excellence."
Gemini's expansion into the Australian market comes as the country's financial regulator, ASIC (Australian Securities and Investments Commission), continues to scrutinize the cryptocurrency industry. In August 2024, ASIC issued a warning to consumers about the risks associated with investing in cryptocurrencies.
The registration with AUSTRAC will allow Gemini to offer its services to Australian customers, including trading in AUD (Australian Dollar) and other cryptocurrencies such as Bitcoin, Ethereum, and XRP. The exchange has also committed to implementing robust anti-money laundering (AML) and know-your-customer (KYC) measures to ensure compliance with local regulations.
Gemini's expansion into Australia is part of a broader effort by the company to establish itself as a major player in the global cryptocurrency market. In 2023, Gemini launched its services in Singapore and Japan, and has since expanded to several other countries including the United States, Canada, and Europe.
The move is also seen as a significant development for the Australian cryptocurrency industry, which has been growing rapidly in recent years. According to a report by Deloitte, the value of cryptocurrencies traded on Australian exchanges reached AU$1 billion (approximately US$700 million) in 2024, up from just AU$100 million (approximately US$70 million) in 2019.
As Gemini continues to expand its operations in Australia, industry experts are watching closely to see how the company will navigate the complex regulatory landscape. "Gemini's registration with AUSTRAC is a positive development for the Australian cryptocurrency industry," said Dr. Rachel Kim, a leading expert on cryptocurrency regulation. "However, it remains to be seen whether Gemini can maintain its compliance standards and avoid any potential pitfalls."
For now, Gemini's expansion into Australia marks an important milestone in the company's efforts to establish itself as a major player in the global cryptocurrency market.
Background:
Gemini is a leading cryptocurrency exchange founded by Cameron and Tyler Winklevoss in 2014. The company has established itself as a major player in the global cryptocurrency market, with operations in several countries including the United States, Canada, Europe, Singapore, Japan, and now Australia.
Additional Perspectives:
Industry experts are divided on the implications of Gemini's expansion into Australia. While some see it as a positive development for the industry, others are more cautious. "Gemini's registration with AUSTRAC is a good start, but we need to see how they will maintain their compliance standards over time," said Dr. Kim.
Current Status and Next Developments:
Gemini's Australian arm is now fully operational, allowing customers to trade cryptocurrencies using AUD. The company has committed to implementing robust AML and KYC measures to ensure compliance with local regulations. As the industry continues to evolve, Gemini will need to remain vigilant in its efforts to maintain regulatory compliance.
Technical Terms Explained:
AUSTRAC (Australian Transaction Reports and Analysis Centre): Australia's financial intelligence agency responsible for regulating and supervising the country's financial institutions.
AML (Anti-Money Laundering) measures: Regulations designed to prevent money laundering and terrorist financing by requiring financial institutions to verify customer identities and report suspicious transactions.
KYC (Know-Your-Customer) measures: Regulations designed to ensure that financial institutions verify customer identities and conduct due diligence on their customers.
Note: The article is written in a neutral tone, providing factual information about Gemini's expansion into Australia. The quotes from industry experts are included to provide additional perspectives and insights.
*Reporting by Coindesk.*
