Cameron and Tyler Winklevoss are considering opening a second headquarters for their cryptocurrency exchange in the UK.

Despite describing the US as “hostile” to crypto, the Bitcoin billionaires said they do not plan to pull Gemini out of that market.

The United States Securities and Exchange Commission has come down hard on cryptocurrency firms in 2023 following the high-profile collapses of companies such as Terraform Labs, FTX and Celsius Labs.

However it has also been criticised for not taking a proactive approach to regulation – especially when compared with the UK and the EU bloc – leading to several companies pulling services out of the US.

“There are so many headwinds right now in the US, it’s hard to get anything done there. And so in order to keep building our business and invest in hiring, we have to look elsewhere,” Cameron Winklevoss told the Telegraph.

“And the UK is a great market to consider that. There’s a point in the future where we have a larger headcount outside of the US than in the US, and there’s probably a jurisdiction or country that… maybe is larger than the US. 

“We’re not leaving the US, we’re going to continue to fight the good fight there. But we also understand that you can vote with your feet, and that’s our right and we will do that when faced with a hostile environment.”