Gemini Galactic, a subsidiary of cryptocurrency exchange Gemini has <a href="https://www.gemini.com/blog/gemini-galactic-markets-approved-for-finra-membership-and-broker-dealer" target="_blank" rel="nofollow noopener">received</a> approval from the Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer with the US Securities and Exchange Commission (SEC).

Gemini Galactic, which is now a FINRA member, can operate an alternative trading system that facilitates the trading of digital asset securities. However, such assets are subjected to the American securities laws just like traditional stocks and bonds and hence can be bought and sold only through a licensed broker-dealer.

John Reinhardt, director of custody operations at Gemini, said it remains to be seen what kind of offerings digital asset securities will include. He expects that initially it will include private placements and, as the market matures, may include public offerings as well.
<blockquote><em>“The growth of the digital asset securities market and the use of blockchain for securities infrastructure will depend on further clarity from regulators and additional investment by companies such as Gemini. Once there are real use cases, the market will be able to grow, and we are excited to be a pioneer in this space,”</em> he added.</blockquote>
Gemini initially applied for a broker-dealer license in 2019. As of yet, the trading platform has snagged up numerous licenses, approvals, and regulatory approvals across its trading and custody divisions.
<blockquote><em>“Gemini is committed to proactively working with regulators to ensure our customers have as much freedom and choice as possible in accessing the digital asset ecosystem. Gemini Galactic’s broker-dealer registration is an important step in fulfilling that vision, and we’re excited to expand our offerings in lockstep with the growth and maturity of the industry,”</em> the announcement statement said.</blockquote>
Gemini now joins a growing list of FINRA members that offers crypto trading. Among one of them includes Interactive Brokers which launched digital asset trading for US financial advisors back in October 2021.

Gemini Galactic Gets FINRA Broker-Dealer Approval

Gemini Galactic, a subsidiary of cryptocurrency exchange Gemini has received approval from the FINRA to operate as a broker dealer with the U.S. SEC.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Gemini Galactic Gets FINRA Broker-Dealer Approval

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