Gemini Trust Company, LLC is a New York State-chartered limited purpose trust company under the New York Banking Law). Gemini is regulated by the New York State Department of Financial Services (“NYSDFS”). As an trust company, we are a fiduciary that is permitted to service both individual and institutional customers. We must meet the capitalization, compliance, anti-money laundering, consumer protection and cyber security requirements as set forth by the NYSDFS and protect the interests of our customers first and foremost.
We are statutorily exempt from being required to register with the Financial Crimes Enforcement Network (“FinCEN”)*, a bureau of the U.S. Department of Treasury, because we are a state chartered limited purpose trust company. We do, however, have an account with FinCEN so that we can file necessary compliance reports.
*See Code of Federal Regulations, Title 31, Part 1010, Subpart A, Section 1010.100(d)(1) and here.