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Gemini UK Implements Travel Rule Restrictions for Cryptocurrency Transfers

Gemini UK will only allow cryptocurrency transfers to and from entities registered with TRUST, in compliance with Travel Rule regulations. Outgoing transfers will only be permitted to 58 TRUST-registered companies, while incoming transfers from non-TRUST VASPs may result in account freezes or limits. Gemini's partnership with TRUST is part of its strategy to comply with the UK's evolving regulatory landscape for digital assets, which includes the introduction of a financial promotions regime and legislation empowering law enforcement to seize crypto assets tied to illegal activities. The exchange's proactive approach highlights its commitment to operating within regulatory expectations and fostering a secure and trustworthy environment for cryptocurrency transactions.

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