Regulatory Rigor Drives Gemini's Expansion into Australia's Mature Crypto Market

Gemini, the cryptocurrency exchange co-founded by Cameron and Tyler Winklevoss, has expanded its operations in Australia by securing formal registration with AUSTRAC, the country's anti-money laundering and counter-terrorism financing regulator. The registration enables the exchange's local entity, Gemini Intergalactic Australia Pty Ltd, to offer crypto services directly to Australian users, including trading in Australian dollars (AUD) via local banking integrations such as PayID and the New Payments Platform (NPP) for instant transactions. This move eliminates the need for cross-border transfers, streamlining deposit and withdrawal processes for Australian customers.

The expansion aligns with Australia's growing crypto adoption, which Gemini's 2025 Global State of Crypto Report identifies as reaching 22% of the population-a figure comparable to adoption rates in the United States. James Logan, appointed as Gemini's Head of Australia, will lead the initiative. Logan brings experience from prior roles at Luno and Bitget, emphasizing his expertise in local market operations. Saad Ahmed, Gemini's APAC head, highlighted the strategic importance of Australia, stating the country's "strong market potential" and Gemini's commitment to "a secure, trusted ecosystem for both retail and institutional users".

The regulatory environment in Australia is evolving, with the government proposing new legislation to extend financial services oversight to crypto exchanges under the Corporations Act. This would require platforms to obtain an Australian Financial Services License (AFSL) and comply with standards akin to traditional financial institutions. Gemini has already begun preparing for these requirements, with Ahmed confirming the exchange is applying for an AFSL to expand into regulated products such as derivatives for wholesale clients. The firm's AUSTRAC registration is a critical step in this process, as compliance with anti-money laundering (AML) regulations is a prerequisite for operating in the country.

Australia's crypto market is becoming increasingly competitive, with Gemini now directly competing with global exchanges like Coinbase and Kraken, as well as domestic platforms such as Swyftx and CoinSpot. The exchange's emphasis on "liquidity, regulatory rigor, and brand trust" distinguishes it from less-regulated operators, Ahmed noted. By integrating local payment rails, Gemini aims to reduce transaction costs and settlement times, offering a more seamless experience for Australian users.

The timing of Gemini's expansion coincides with broader regulatory developments in Australia. AUSTRAC's cryptocurrency taskforce has intensified scrutiny of high-risk operators, including crypto ATMs, which have grown from 23 in 2019 to approximately 1,800 in 2025. The regulator has also introduced minimum standards for crypto ATM providers and suspended or withdrew licenses from non-compliant entities. These measures reflect a broader effort to combat money laundering and scams, which Gemini's compliance-focused approach aims to align with.

Gemini's entry into Australia underscores the exchange's global growth strategy, which includes recent milestones such as securing a European MiCA license and launching tokenized stock trading in Europe. With over $200 billion in cleared volume across 60 countries, the firm is positioning itself to capitalize on Australia's mature crypto market, where institutional and retail demand continues to rise.

Source: [1] Coindesk (https://www.coindesk.com/markets/2025/10/09/gemini-expands-operations-in-australia-with-austrac-registration) [2] Cryptonomist (https://en.cryptonomist.ch/2025/10/09/gemini-australia-expansion-austrac-registration/) [3] The Crypto Times (https://www.cryptotimes.io/2025/10/09/gemini-strengthens-australian-operations-with-new-appointment/) [5] Decrypt (https://decrypt.co/343185/gemini-australia-push-new-crypto-rules-loom) [6] AUSTRAC (https://www.austrac.gov.au/cracking-down-crypto-crime)