TechFlow reported, according to CryptoSlate, that Gemini's UK branch will restrict its cryptocurrency transfer services starting November 17 to only those virtual asset service providers (VASPs) participating in the travel rule compliance solution TRUST.
The exchange attributed its decision to travel rule regulations, which require VASPs to share information about the sender and recipient of cryptocurrency transactions.
As a result, Gemini will limit transfers of Bitcoin and other cryptocurrencies exclusively to 58 registered crypto-related firms, including Anchorage, Binance.US, BitGet, BitGo, Coinbase, and Circle.
In addition to restricting outgoing transfers, Gemini will also block incoming transfers from non-TRUST VASPs.
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