The UK financial regulator adds Gemini and Archax in the list of registered exchanges.

Crypto exchanges Gemini and Archax have secured the UK financial regulator Financial Conduct Authority’s (FCA) license to offer cryptocurrency exchange services in the United Kingdom. The two firms have become the first in the industry to receive the license as the January 2021 deadline draws closer. The FCA has added Gemini Europe Limited, the UK subsidiary of the Winklevoss twins’ exchange, to its list of registered crypto-asset firms. Archax received its license on August 19, a day earlier than Gemini, becoming the first firm to be officially registered under new crypto regulations in the UK.

New regulations require crypto companies to register with the FCA.

In its press release, the London-based crypto exchange Archax stated that the license marked an important milestone for the firm, as well as the digital currency industry in the country. For the first time, digital issuance from across the world will be able to trade on an FCA authorized secondary market, and institutions will have access to a credible regulated trading venue on which to engage with the digital securities space, the exchange stated. The new licensing commenced in January this year, requiring all cryptocurrency operators in the UK to register with the FCA. Bitcoin news aggregator platforms are a good way to keep up with the new crypto regulations.

The deadline for registration is January 10, 2021.

The new licensing regulations require all digital currency operators in the UK to register with the Financial Conduct Authority. They also had to comply with the amended money laundering, terrorist financing, and transfer of funds directives. The deadline for the registration is January 10, 2021. The licensing for the crypto exchange Gemini came a few days after it became accepted by the state of Hawaii in its digital currency regulatory sandbox. Crypto regulations around the world are getting more strict as regulators get serious about the crypto industry.