US Exchange Establishes Local Entity and Adopts a Cautious Strategy as Government Shapes New Crypto Rules
Gemini, the US-based cryptocurrency exchange, is expanding its presence in Australia through a newly registered local entity while taking a “wait-and-see” approach toward the country’s upcoming crypto regulations.
The company has formed Gemini Intergalactic Australia, a locally incorporated firm registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC). The move allows Gemini to integrate domestic payment rails and operate under clearer compliance frameworks while deepening its footprint in one of the world’s fastest-growing digital asset markets.
“Australia’s crypto penetration is quite significant, somewhere between 23% and 25%, which gives us plenty of room for growth,” said Saad Ahmed, Gemini’s Head of Asia Pacific.
Building Local Roots in Sydney
The exchange plans to base its Australian operations in Sydney, appointing James Logan—formerly of Luno and Bitget—to lead its expansion efforts. The firm also aims to secure an Australian Financial Services License (AFSL) to offer additional products such as staking and crypto-linked credit cards.
Ahmed noted, however, that Gemini will initially focus on its core trading and payment services before introducing a full suite of offerings. “We’re not going to have all of the products we offer in the US out of the gate, but we’re working on it,” he said.
A Measured Approach to Regulation
The Australian government is currently consulting on draft legislation designed to bring crypto exchanges under stricter financial oversight. The proposed rules would require operators to obtain an AFSL, aligning crypto firms with traditional financial institutions.
“There’s going to be some back and forth between the industry and the government,” Ahmed explained. “We’ll probably take the position of just observing and seeing how things play out over the next few months.”
While other exchanges lobby for amendments, Gemini is choosing a patient and compliance-driven strategy. “We’re confident that whatever regulation comes into effect, we’ll be ready for it and able to comply,” Ahmed added.
With strong local interest and evolving oversight, Australia is emerging as a key market for Gemini’s international expansion — one that may shape how global exchanges navigate regulatory transitions in 2025.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.