The UK’s Financial Conduct Authority has granted operational licenses to two cryptocurrency exchanges operating in the country: digital security exchange Archax and the UK branch of the Winklevoss twins’ Gemini exchange.
According to the Financial Conduct Authority (FCA) website, both Archax and Gemini Europe Services are currently registered in the U.K. as crypto asset firms as of Aug. 18 and Aug. 19, respectively. Both crypto exchanges had to meet compliance requirements in terms of a risk assessment of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations which were mandatory as of Jan. 10.