Cameron and Tyler Winklevoss, the founders of cryptocurrency exchange Gemini, have revealed their plans to open a second headquarters in London.
The brothers have discussed the relocation with representatives of the UK Financial Conduct Authority due to the “hostile” regulatory climate in the US.
Cameron Winklevoss has commented:
“There are so many headwinds in the US right now, so it’s hard to do anything there. In order to continue to develop our business, we must look elsewhere. […] The UK is a great jurisdiction to keep in mind. Perhaps in the future we will have more employees outside the US than inside the country.”
Despite the decision to open a new office in London, the brothers state that Gemini will continue to operate in the US and fight “a fair fight” there.
Tyler Winklevoss, however, raised doubts on the UK’s uncertain attitude towards cryptocurrencies, citing the recent report from the Treasury Committee which compared digital assets to gambling.