At Gemini, we’re authorised in the UK as an Electronic Money Institution (EMI). That means we’re regulated, but not in the same way as a traditional bank.
It’s important that you understand what this means for your money, especially around how your funds are protected.
Gemini is not a bank
Unlike banks, EMIs do not accept deposits. Instead, we issue electronic money (e-money) and provide cryptoasset services. Whilst this structure is common amongst other crypto platforms, the regulatory protections are different and it is important that you are made aware of these differences.
When you hold fiat currency (like GBP or EUR) in your Gemini account, it’s not classified as a “deposit” — so normal bank account protection does not apply.
How are your funds protected?
Although EMI accounts don’t fall under the Financial Services Compensation Scheme (FSCS) — which protects bank deposits up to £85,000 — Gemini is legally required to safeguard your funds in other ways.
Here's how:
- Your money is kept separate from Gemini’s own funds
- It is held in dedicated safeguarding accounts at reputable banks
- It cannot be used for Gemini’s operational or investment purposes
This is known as “safeguarding”, and it’s designed to ensure that, if anything happens to Gemini, your money can be returned to you.
Key differences at a glance
| Feature | Bank | EMI (like Gemini) |
| Accepts deposits | ✅ Yes | ❌ No |
| FSCS protection | ✅ Up to £85,000 | ❌ Not covered |
| Safeguarding requirement | ❌ Not required | ✅ Mandatory for customer funds |
| Can lend/invest your money | ✅ Yes | ❌ No – funds must be kept separate |
What this means for you
You still benefit from strong protection — just a different kind. While FSCS doesn’t apply, safeguarding is a legal obligation that ensures your money is secure and never mixed with business risk.
If Gemini were to stop operating, your safeguarded funds would be returned (after any necessary administrative processes), rather than being at risk like unsecured deposits in a failed business.
If you have questions about how your money is protected at Gemini, our support team is happy to help. We’re committed to full transparency so you can have confidence in where and how your money is held.
Don’t Let Hype or Pressure Drive Your Investment Decisions
It’s natural to talk about money with friends, share tips online, or feel a bit of FOMO when someone you know makes a bold move in crypto. But recent research from the FCA shows that many people — especially younger investors — are taking high risks for the wrong reasons.
At Gemini, we want to remind all our customers that your investment journey should be your own, not something shaped by hype, emotion, or competition.
What the FCA found
A recent FCA survey revealed that a significant number of people — particularly those aged 18 to 40 — are investing in high-risk products like crypto because of:
- A sense of competition with friends, family, or peers
- Pressure to keep up or appear financially successful
- Social media hype or fear of missing out (FOMO)
- Influencers promoting “get rich quick” narratives
These influences can cloud judgement and lead to impulsive decisions that aren’t aligned with your goals, risk tolerance, or financial situation.
Why this matters
Crypto is exciting — but it’s also high-risk and highly volatile. If you invest for the wrong reasons, you could end up:
- Taking on more risk than you can afford
- Making decisions without understanding the crypto industry or the different products offered
- Panicking or selling at a loss during downturns
- Being influenced by people who don’t have your best interests at heart
How to take control
Set your own goals
Make sure your investments fit your personal financial plan — not someone else’s.
Understand the risks
Never invest in something you don’t fully understand. If it sounds too good to be true, it probably is. [New To Crypto or not sure where to begin? While it might sound complicated, it doesn’t have to be. Look no further than Gemini’s Cryptopedia - Your trusted source for all things crypto.]
Tune out the noise
Social media, group chats, and forums can be fun — but they’re not investment advice. Be selective about who you listen to.
Take your time
Good decisions are rarely rushed. Avoid pressure to “act now” or copy what someone else is doing.
Only invest what you can afford to lose
Cryptoassets are not protected by the FSCS, and prices can fluctuate rapidly.
Gemini’s commitment
We're here to provide a secure platform, clear information, and tools to help you invest on your terms. If you're ever unsure, take a pause — or speak to our support team before moving forward.
Remember: Smart investing isn’t about beating others — it’s about building a future that works for you.