The US-based cryptocurrency exchange Gemini Trust Company, LLC has received an approval from the UK's Financial Conduct Authority (FCA).
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Hence, Gemini became the first US-based cryptocurrency exchange and the second digital assets company that has been added to the FCA's list of licensed cryptoasset firms.
Starting from January 2020, firms carrying out specific crypto-related activities in the UK are obliged to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) and register with the FCA.
Prior to receiving approval from the FCA, Gemini signed a partnership agreement with Eventus Systems Inc. to surveillance and prevent anti-market manipulation.
According to Bloomberg, Eventus already provides similar services for Coinbase and ErisX.
Earlier, iHodl reported that Gemini entered into a partnership with Blockchange Inc., a digital asset investing platform, to offer cryptocurrencies to registered investment advisors.
The exchange pointed out that Quantum Capital Management, a multi-million wealth management firm, had already signed on to the Blockchange-Gemini solution to offer clients the opportunity to diversify their investment portfolios.
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