Gemini Trust Company, the owner of the New York cryptocurrency exchange created by the Winklevoss brothers in 2014, is considering expansion into the UK market. According to the Financial Times, the company has hired legal counsel to advise on a potential move to the UK and has applied to the Financial Conduct Authority (FCA).
Currently, the Financial Conduct Authority (FCA) regulates the cryptocurrency industry, but British politicians have recently been actively advocating that the government consider the risks associated with the digital asset industry and take control of the “Wild West” crypto asset markets. In addition, several cryptocurrency exchanges, including the US Coinbase, are already operating in the UK under an electronic money license issued by the Financial Conduct Authority (FCA), which means that they should consider anti-money laundering methods and perform customer audits.
Cameron and Tyler Winklevoss are among the most ardent supporters of bitcoin, known for their price forecasts, and they have not changed their mind even against the background of the epic collapse in the cryptocurrency market, which has lost more than 60% of its value since the beginning of the year. While bitcoin stubbornly remains at around $6,500, the Winklevoss brothers believe it will quickly be able to rise to $320,000 in 10 years and eventually cross out gold.
