Gemini To Restrict Crypto Transfers in The UK
Gemini to only allow crypto transfers with approved firms from Nov 17, due to UK's new sharing rules.
Gemini's UK branch sets new crypto rules effective from Nov 17. They'll only send Cryptocurrencies to firms registered with TRUST due to laws requiring sharing sender and receiver details.
Sharing info is key under the UK Travel Rule. Gemini joined TRUST to help stop fraud and will only deal with 58 approved companies like Coinbase.
Restrictions apply to incoming transfers too.By December, transfers from non-TRUST firms may be blocked to keep transactions clear.
This step keeps Gemini in line with UK laws, which aim to make the crypto world safer and give police power to act on illegal assets.
Gemini adapts to the UK's tight crypto control, by establishing dedicated social media channels for U.K. customers and introducing risk warnings on its platform.
