The British Financial Conduct Authority (FCA) has registered two branches of the Gemini Winklevoss brothers cryptocurrency exchange. The company has complied with the requirements of the regulator with the EU’s Fifth Anti-Money Laundering Directive (AMLD5).
Apart from Gemini Europe Services Limited and Gemini Europe Limited, the list of registered cryptocurrency firms includes only the London-based Archax exchange, which received a licens of the multilateral trading platform (MTF) for the security token market, storage of digital and fiat assets, and brokerage services.
In an interview with The Block, Archax noted the “tough” nature of the registration process. Gemini has partnered with anti-market manipulation solution provider Eventus Systems, which also partners with Coinbase and ErisX, according to Bloomberg.
The fifth EU directive entered into force on January 10, 2020. Among its requirements are the association of virtual currency addresses with the identity of the owner, disclosure of ultimate beneficiaries and a ban on working with anonymous accounts.
UK-based cryptocurrency exchanges, wallet operators and private key holders are required to register with the FCA by 10 January 2021.
Similar registration requirements were presented to cryptocurrency companies in Spain.