As stated by unknown sources to the Financial Times (FT) today, Tyler and Cameron Winklevoss, U.S. based digital currency exchange platform inventors, are thinking to extend their platform to the U.K market.
The Gemini Trust Company, established in 2014 in New York, is the 58th largest international crypto trading platform based on daily exchange volume, as reported by CoinMarketCap.
According to FT’s two anonymous sources, the company employed advisors to supervise its potential enlargement to the U.K. The firm itself cited on record by the Financial Times as stating that while Gemini has no current plans as such:
“[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.”
One of the sources has additionally alleged that the company is currently close to filing an application with the U.K. market observers, the Financial Conduct Authority (FCA), to get a permission.
Last week, U.K. Members of Parliament (MPs) had requested the FCA to escalate its actions and bring the newly emerging crypto sector under the area of already existing regulatory structures.
Although the MPs berated the existing state of crypto markets as a ‘Wild West’, they debated that with the right regulatory guidance U.K. could become an international hub for the crypto industry.
Gemini currently works as a completely compliant manager and exchanging services provider in the States, has got the formal approval from New York’s Department of Financial Services (NYDFS) to produce under the state’s severe BitLicense framework in 2015.
Last week, the NYDFS delivered its official sanction to the Gemini’s brand-new entirely State dollar supported stablecoin, named Gemini dollar, where the fiat currency resources will be kept U.S. based bank that is ‘eligible for FDIC pass-through deposit insurance’.
The creators, however, had a massive difficulty this July, when U.S. Securities and Exchange Commission (SEC) has declined for the second time their application to launch a Bitcoin exchange-traded fund (ETF).
Author: Berna Bayindir
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