{"id":60231,"date":"2023-09-27T06:24:41","date_gmt":"2023-09-27T10:24:41","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=60231"},"modified":"2023-09-27T06:28:52","modified_gmt":"2023-09-27T10:28:52","slug":"crypto-exchange-gemini-to-invest-24-million-in-india-hub","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-exchange-gemini-to-invest-24-million-in-india-hub\/","title":{"rendered":"Crypto Exchange Gemini to Invest $24 Million in India Hub"},"content":{"rendered":"\n

Gemini disclosed its intention to invest a substantial amount<\/a> of INR 200 crore, equivalent to $24 million USD. <\/p>\n\n\n\n

\"Crypto
Crypto Exchange Gemini to Invest $24 Million in India Hub<\/figcaption><\/figure>\n\n\n\n

Despite the complex legal environment, Gemini, a cryptocurrency exchange<\/a> co-founded by the Winklevoss twins, intends to increase its presence in India.<\/p>\n\n\n\n

The New York-based cryptocurrency exchange stated in a blog post on Tuesday, Sept. 26 that it intends to invest INR 200 crore ($24 million) over the next two years to “grow our development center in Gurgaon.” <\/p>\n\n\n\n

The exchange also stated in a post on X that it intends to quadruple the number of workers working in the Cyber Hub at Campus Cyber Greens \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>(located in Gurgaon), with the investment from 70 to more than 150.<\/p>\n\n\n\n

Gemini stated it intends to increase staffing across engineering, design, and operations departments even though no financial information regarding the investment was given. <\/p>\n\n\n\n

According to Gemini, as part of the exchange's “core platform fundamentals,” teams headquartered in Gurgaon will also work on compliance, payments, and security.<\/p>\n\n\n\n

In April 2023, Gemini opened its doors for the first time in Gurgaon as a part of the business's APAC expansion objectives. The Gurgaon office is the second-largest engineering hub on the exchange after the United States. <\/p>\n\n\n\n

Additionally, Gemini has locations in Singapore, Ireland, and the United Kingdom<\/a>. The announcement coincides with local cryptocurrency obstacles. India is expected to maintain onerous cryptocurrency tariffs until at least 2025, previously reported. <\/p>\n\n\n\n

Nischal Shetty, CEO of WazirX, claims that the Indian government has not yet held any discussions on the subject with parliamentarians or the business community.<\/p>\n\n\n\n

India enacted a new regulation in April 2022 that taxes ownership and transactions of digital currency<\/a> by 30%. The bill states that dealers must not deduct losses from gains. <\/p>\n\n\n\n

In an effort to check the movements of cryptocurrency funds, India has also implemented a tax deduction at a source of 1% on each purchase or sell trade.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gemini disclosed its intention to invest a substantial amount of INR 200 crore, equivalent to $24 million USD. Despite the complex legal environment, Gemini, a cryptocurrency exchange co-founded by the Winklevoss twins, intends to increase its presence in India. The New York-based cryptocurrency exchange stated in a blog post on Tuesday, Sept. 26 that it […]<\/p>\n","protected":false},"author":43,"featured_media":60233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[1406,1276,320],"class_list":["post-60231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-crypto-exchange","tag-gemini","tag-india"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/09\/croc_1695755754245.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=60231"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/60233"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=60231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=60231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=60231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}