In a year marked by seismic shifts in European politics and technology regulation, two major stories have emerged from the heart of the European Union: the expansion of the Gemini cryptocurrency exchange into Europe under new regulatory frameworks, and the relentless advocacy by the European Digital Rights (EDRi) organization to safeguard digital rights in the face of mounting political and corporate pressures.
On August 20, 2025, Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, achieved a significant milestone by securing a Markets in Crypto-Assets Regulation (MiCA) license from the Malta Financial Services Authority (MFSA), as confirmed by official MFSA records and reported by Cointelegraph. This license, the fifth of its kind issued by Malta, is more than just a regulatory box to tick—it represents Gemini’s commitment to expanding its secure and reliable crypto offerings to customers across over 30 European countries and jurisdictions.
“Receiving this approval marks a critical milestone in our regulated European expansion, as it will allow us to expand our secure and reliable crypto products for customers in over 30 European countries and jurisdictions,” Gemini stated, underlining the strategic importance of the license for its European ambitions. The company further emphasized, “We believe that clear regulation of the industry is the foundation of global crypto adoption, and MiCA’s implementation has proven that Europe is one of the most innovative and forward-thinking regions regarding this.”
Gemini’s regulatory journey in Europe began earlier in May 2025, when it received a Markets in Financial Instruments Directive (MiFID II) license, enabling the exchange to offer derivatives across the European market. The company has not slowed down since. In late June 2025, Gemini launched a new offering: tokenized stocks on the Arbitrum blockchain, allowing European customers to trade tokenized shares of companies like Michael Saylor’s Strategy (MSTR) around the clock. This move placed Gemini squarely in the midst of a growing trend, as competitors like Kraken and Robinhood also rolled out similar products in the region.
Tokenized stocks, regulated under the MiFID II framework in the EU, are classified as financial instruments akin to derivatives. The appeal is clear—users gain 24/7 access to a range of equities, sidestepping traditional market hours and structures. As Gemini’s statement to Cointelegraph put it, the company welcomes “clear regulation” and sees MiCA as a cornerstone for global adoption of crypto products.
Gemini’s progress is part of a broader regulatory evolution in Europe. Malta’s MFSA has now issued five MiCA licenses, with Gemini joining the ranks of Bitpanda, Crypto.com, OKX, and ZBX. This regulatory activity has not gone unnoticed by Europe’s top financial watchdog. In July 2025, the European Securities and Markets Authority (ESMA) scrutinized the MFSA’s authorization process for an unidentified crypto asset service provider, raising questions about oversight and compliance. However, after a peer review, ESMA confirmed that none of the MiCA licenses were at risk, and the MFSA reaffirmed its commitment to close collaboration with EU authorities.
While Gemini’s expansion and Malta’s regulatory leadership signal a maturing digital asset landscape, the broader context in Europe is anything but settled. The year 2024 was a watershed moment for digital rights and democracy across the continent. According to the European Digital Rights (EDRi) organization’s annual report, the June 2024 European elections resulted in the most far-right European Parliament ever elected, ushering in a new era of uncertainty for digital rights advocates.
EDRi, a network of civil society organizations dedicated to digital rights and justice, responded proactively. Ahead of the elections, it published a manifesto for positive digital futures, co-signed by more than 30 civil society groups and supported by 40,000 people across Europe. This manifesto became the guiding star for EDRi’s demands from both existing and incoming policymakers, urging them to keep the public interest at the heart of Europe’s technology policies.
In October 2024, EDRi co-organized the Tech and Society Summit in Brussels. This event, attended by over 350 Members of the European Parliament, EU decision-makers, civil society representatives, and journalists, was a landmark—the first tech policy summit in Brussels not financed by Big Tech corporations. The summit brought together a diverse coalition of organizations advocating for human, digital, and consumer rights, as well as social and environmental justice. Their collaborative efforts aimed to articulate a digital agenda that is truly people-focused and protective of everyone’s digital rights.
EDRi’s influence wasn’t confined to policy summits and manifestos. In 2024, the organization played a pivotal role in changing LinkedIn’s advertising practices. Alongside Gesellschaft für Freiheitsrechte (GFF), Bits of Freedom, and Global Witness, EDRi filed a complaint under the Digital Services Act (DSA), resulting in LinkedIn discontinuing ad targeting based on sensitive personal data such as sexuality, political opinions, or race. This victory was a testament to the power of coordinated civil society action in shaping the digital environment.
Another battleground was the controversial EU CSA Regulation, also known as Chat Control. EDRi was instrumental in blocking the regulation in the EU Council, thus preserving end-to-end encryption for the time being and pushing back against mass surveillance agendas. The group also highlighted the problematic nature of reforms to the EU asylum database, Eurodac, calling attention to the “colonial nature of the surveillance of people on the move” and how technology is used to further marginalize migrants in the EU.
The end of 2024 marked the conclusion of EDRi’s 2020-2024 strategy cycle, prompting a year-long process of research, consultation, and co-drafting with its members to set shared goals for the next five years. As the organization looks to 2025, it faces a landscape where its recent wins are threatened by what it describes as a “pro-corporate deregulation agenda” within EU institutions. With an internal leadership transition underway, EDRi remains committed to defending digital rights and justice, supporting communities affected by technological harms, and championing an inclusive digital future.
The stories of Gemini and EDRi, though distinct, are intertwined by the currents of regulation, innovation, and advocacy that define Europe’s digital present. As the continent grapples with new technologies, shifting political winds, and the ever-present influence of corporate interests, the stakes for digital rights and financial innovation have never been higher. The coming years will reveal whether Europe can balance these competing forces, ensuring that both innovation and individual rights flourish in the digital age.