Published
5 years ago on
September 24, 2018
“[We] continue to explore potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community.â€It now seems that the exchange are edging closer to filing a complete application to open up trading operations within the UK with the Financial Conduct Authority. In order to facilitate UK trades, Gemini need to seek approval from the FCA, though this shouldn’t be too difficult given that as it stands, Gemini also already have similar approval from the relevant United States authorities. According to Cointelegraph:
“Gemini already operates as a fully compliant crypto custodian and trading services provider in the U.S., having received formal approval from New York’s Department of Financial Services (NYDFS) to operate under the state’s exacting BitLicense framework in 2015.â€A Bitcoin ETF for British firms? We know that the Winklevoss twins are keen on introducing a fully working Bitcoin ETF, therefore we could look into the idea that a move by Gemini into the UK could be used to mobilise a similar ETF movement in the UK, to what we are seeing in the United States. Indeed, the failure to approve an ETF application just yet in the US would give the FCA plenty to think about, therefore until the US has been tackled, we wouldn’t expect a Gemini led Bitcoin ETF to take off in the UK just yet. Either way, access into the Gemini exchange in the UK would give British investors the opportunity to try out a new and expanding platform. Once the UK is cracked, we can only expect Gemini to continue to grow, entering other European countries next, before an inevitable expansion into Asia and the rest of the world too. References Cointelegraph
