Gemini Restricted Countries

Gemini Restricted Countries

Gemini operates as a global cryptocurrency exchange and is available in 60 countries but imposes restrictions in certain regions due to regulatory requirements. As outlined in their terms of service, Gemini classifies specific countries and areas as "Restricted Locations," where access to their services is limited or completely unavailable.

These restricted locations include, but are not limited to, North Korea, Iran, Syria, Cuba, Sudan, and several others. Additionally, Gemini may limit access in certain regions within the European Union and other countries where local regulations impose specific constraints on cryptocurrency activities. 

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Why Does Gemini Restrict Countries and Users?

Gemini restricts access in specific countries to comply with international laws and regulations. These restrictions are part of their commitment to legal compliance and user safety.

• Sanctions Compliance: Gemini blocks access to users in countries subject to sanctions by the U.S. Treasury's Office of Foreign Assets Control (OFAC) and other international bodies.
• Regulatory Compliance: Gemini adheres to regulations from authorities like FinCEN and the New York Department of Financial Services. Users from heavily regulated or prohibited regions may face access restrictions.
• Local Law Adherence: Users must follow their local laws when using Gemini, which may impose additional restrictions.
• Jurisdictional Restrictions: Gemini limits services in countries like North Korea, Iran, and Syria due to legal challenges and regulatory concerns.
• U.S. Regulatory Considerations: As a U.S.-based company, Gemini complies with SEC and CFTC regulations, which influence its access policies.

These restrictions ensure Gemini operates within legal boundaries and maintains a secure platform.

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Gemini Licenses

Gemini Trust Company, LLC, is committed to maintaining the highest standards of regulatory compliance across multiple jurisdictions. This dedication is reflected in the various licenses and certifications the company holds worldwide, ensuring transparency, security, and trust for its users.

• United States: Gemini operates as a New York trust company and holds a BitLicense issued by the New York State Department of Financial Services (NYSDFS). It is also registered as a money services business with FinCEN and has secured money transmitter licenses across numerous states.
• United Kingdom: In the U.K., Gemini is authorized by the Financial Conduct Authority (FCA) as an e-money institution and is registered as a Virtual Asset Service Provider. These certifications enable Gemini to offer secure and compliant services in the region.
• Ireland: Gemini has been granted e-money authorization and is registered as a Virtual Asset Service Provider by the Central Bank of Ireland. This allows the company to operate fully within the Irish financial regulatory framework.
• Italy: Gemini is recognized as a Virtual Currency Operator by the Organismo Agenti e Mediatori, which permits the company to provide digital asset services in Italy under strict regulatory oversight.
• Greece: The Hellenic Capital Market Commission has authorized Gemini as a Custodial Wallet Provider and Exchange Service Provider, ensuring compliance with Greek financial regulations.
• Global Compliance: Beyond specific country licenses, Gemini's commitment to security and regulatory adherence is demonstrated through its certifications, including SOC 1 Type 2, SOC 2 Type 2, and ISO/IEC 27001:2013. These certifications validate Gemini’s robust information security management practices and its dedication to protecting user assets.

Gemini’s rigorous approach to securing regulatory licenses and certifications highlights its ongoing effort to provide a secure, compliant, and transparent platform for digital asset trading and custody worldwide.

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Does Gemini Require KYC?

Yes, Gemini requires all users to complete the Know Your Customer (KYC) verification process. This is mandatory for accessing core services, including depositing and withdrawing funds, trading digital assets, and using various other features on the platform. The KYC process at Gemini involves submitting personal details, verifying identity documents, and completing additional verification steps like facial recognition and address confirmation. This ensures compliance with regulatory standards and enhances the security of the platform for all users.

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Bottom Line

In conclusion, Gemini's commitment to regulatory compliance and user security is evident through its strict adherence to global laws, comprehensive KYC requirements, and extensive licensing across multiple jurisdictions. While offering services in 60 countries, Gemini imposes necessary restrictions in regions with legal challenges, ensuring a safe and compliant environment for its users.