Gemini Registers With UK Financial Conduct Authority

1. Gemini Registers with UK Financial Conduct Authority The U.S. crypto exchange Gemini has registered its U.K. branch with the FCA to comply with the country's recent mandate. The U.S. crypto exchange Gemini has registered its U.K. branch with the Financial Conduct Authority to comply with the country’s recent mandate. The mandate makes it necessary for crypto firms to report their activity. FCA approved its first exchange under the new regulation, Archax. Moreover, this year, the U.K. regulators amended the anti-money laundering rules with the European Union’s fifth AML Directive (AMLD5). This requires crypto businesses in the U.K. to register with the FCA before performing any crypto-asset activity. European countries are enforcing crypto regulations based on the FATF guidelines. Therefore, the European countries are carrying out the European Union’s fifth AML Directive. Additionally, the new crypto regulations require crypto businesses to comply with regulators. They even provide information about their customers to track illicit activities. FCA: Crypto Firms have to Register by January 10 2020 According to the FCA’s website, as of January 10 2020, firms carrying out specific crypto asset activities in the U.K. are supposed to register with the City’s watchdog. Gemini’s U.K. arm, Gemini Europe Limited, appeared on the FCA register this week. Nevertheless, the firm aims at adding an effective status date for the firm’s registration. According to the register, adjacent to Gemini was Archax, whose approval status took effect this week. Archax is an upcoming London-based exchange. Earlier, Gemini Trust Co. had hired Eventus Systems Inc. to

2. offer anti-market manipulation tools. Currently, Archax and Gemini are the only two firms on the FCA’s list of registered crypto-asset firms. Read More: https://cryptodose.co/gemini-registers-with-uk-financial-conduct-authority/