Gemini Withdrawing from the UK and EU: BTC Regulation

Gemini's Strategic BTC-Focused Withdrawal

Gemini cryptocurrency exchange is withdrawing from the UK, EU, and Australia to focus on the US and Singapore. This decision raises the question of whether the UK's incomplete crypto regulations are deterring even regulated firms. In 2022, then-Chancellor Rishi Sunak announced the goal of making the UK a crypto hub, announcing stablecoin regulations and the FCA's CryptoSprint initiative. However, in Gemini's February 5 strategy update, it states that foreign markets are challenging and expansion increases costs.

Gemini strategy update: Source Gemini

Bitcoin Policy UK CEO Susie Violet Ward says prolonged rules, high compliance costs, and an uncertain regime are driving firms away. Crypto Council for Innovation's Laura Navaratnam notes that inconsistencies in stablecoin rules in FCA license applications starting September 2026 create risks. CoinJar CEO Asher Tan says FSMA authorization increases the operational burden. The FCA plans to implement a new regime including capital and liquidity rules for crypto platforms with CP25/42 in 2027.

A new regime for cryptoasset regulation. Source: FCA

BTC ETF Flows and Binance SAFU Purchases

Despite regulatory uncertainty, the BTC market remains strong: BTC ETFs saw $144.9 million in net inflows on February 9. The Binance SAFU Fund added another 4225 BTC ($299.6 million), bringing the total to 10455 BTC ($734 million). These flows show that Gemini's withdrawal will not impact BTC demand. Click for detailed BTC analysis.

BTC Technical Outlook: Strong Supports

BTC price 69.151,50 USD, 24h -0,70%. RSI 32,25 (oversold), downtrend, Supertrend bearish, EMA20 77.338. Supports: S1 62.909 (strong, -9%), S2 68.348 (strong, -1,2%). Resistances: R1 72.028 (+4,1%), R2 91.200 (+32%). Check BTC futures. Spot BTC data points to strong S2.