Twin brothers Tyler and Cameron Winklevoss, who founded the Gemini cryptocurrency exchange, have spoken about plans to open a headquarters in the UK due to US hostility towards cryptocurrencies.

Tyler and Cameron Winklevoss said they met with officials from the UK Financial Conduct Authority (FCA) and the Bank of England this week to discuss the possibility of expanding Gemini. Entrepreneurs have complained about the difficult regulatory environment in the United States, which has only worsened since the collapse of the FTX crypto exchange last year.

“Now there are so many constraints in the US that it is difficult to develop a cryptocurrency business in the country. Therefore, we must look for opportunities 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,” said Cameron Winklevoss.

He explained that the exchange does not leave the United States and will continue to operate there. However, according to Cameron Winklevoss, the exchange has the right to leave the country if the regulatory environment becomes openly hostile. The Gemini co-founder called the UK a “second home”, because it was there that the exchange became one of the first crypto companies to receive FCA permission.

At the same time, Tyler Winklevoss has some doubts about the ambiguous attitude of the British authorities towards cryptocurrencies. On the one hand, the UK is ready to create favorable conditions for the development of the industry. On the other hand, the British Parliament recently proposed to regulate cryptocurrencies that are not backed by real assets, like gambling.

Recall that in March, many cryptocurrency companies hurried to leave the UK due to tightened FCA requirements, and companies awaiting the approval of the regulator said they did not rule out a change of jurisdiction.