logo

FCA lists Gemini as the second UK registered exchange

Australia sees no strong case to introduce national digital currency

Hours ago, reports noted that the Financial Conduct Authority (FCA) listed its first UK registered exchange, Archax. A glance at FCA’s ‘Registered Cryptoassets Firms’ today shows that Gemini, the United States cryptocurrency exchange is now the second exchange to have registered in the country. The companies’ registration is aimed at ensuring compliance with the UK’s new mandate. 

Gemini becomes the second UK registered exchange

Following the FCA’s website, two Gemini UK branches were listed as registered companies under the regulator. The companies are namely Gemini Europe Services, Ltd; and Gemini Europe Limited. Meanwhile, the MLRs effective status date for the first Gemini branch commenced on August 19. However, the effective date for the other branch is yet to be disclosed. 

Becoming a UK registered exchange is quite paramount for the companies to comply with the country’s new mandate adopted to curb money laundering acts. Earlier this year, the country updated its Anti-money laundering directive to the AMLD5 or the European Union’s fifth AML Directive. In this course, all the companies dealing with crypto in the UK were asked to register with the regulator.

These companies are expected to register with FCA before January 10, next year. 

Archax, the first UK registered exchange

At the moment, Gemini and Archax are the only cryptocurrency entities to have registered with the FCA, with Archax being the first to do so. On Wednesday, London-based announced that it had been approved by the regulator as a multilateral trading facility exchange. With FCA’s greenlight, the institution-focused exchange can now act as a trading center, host offerings, and also custody digital securities.

Hence, institutions can trade digital currencies in the UK via an FCA-authorized venue for the first time.

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

Related News

Hot Stories

Best Twitter Threads of the day - November 24th
Top crypto tweets of the day - November 24th
Another Sign of Danger: 7-year-old 10,000 BTC moved
Bitcoin price analysis: BTC returns to $16,500, further selling slowly incoming?
Crypto Analysts Predict Massive Surge for BudBlockz NFTs in 2023

Follow Us

Industry News

Another Sign of Danger: 7-year-old 10,000 BTC moved
CZ grilled on Bloomberg TV, sets the record straight, and shows he is the boss
Bank of Japan records breakthrough in its CBDC trial
Why is the crypto market down today? November 2022 update
We take a look at Crypto firms that went bankrupt in 2022

Add Your Heading Text Here