To continue using Gemini’s full range of Digital Payment Token (DPT) services in Singapore, all customers must complete the Gemini Knowledge Assessment by 18 June, 2025. This Knowledge Assessment is part of enhanced consumer protection measures introduced by the Monetary Authority of Singapore (MAS).

The assessment is designed to help customers better understand the risks involved in trading and using DPT services offered by Gemini. It applies to all customers who use services provided by Gemini Digital Payments Singapore, Pte. Ltd. 

Who needs to complete the assessment?

• All customers of Gemini Digital Payments Singapore, Pte. Ltd.

How to take the test

You will be prompted to take the assessment when logging into your account on the Gemini website. A banner will appear at the top of the homepage and remain visible until the assessment is successfully passed.

The assessment takes only a few minutes and is available on both the Gemini mobile app* and the web platform. You’ll see a banner on your homepage that will guide you directly to the assessment. 

*If you are using the mobile app, please ensure you have the latest version installed to access the update. For iOS users: Sometimes, updates may not appear in the "Available Updates" section of the app store. To check manually, search for the Gemini app in the app store and tap on it—if an update is available, the "Open" button will change to "Update."

You can also access the assessment directly using this link: https://exchange.gemini.com/knowledge-assessment

To pass the assessment, you must correctly answer at least four out of six questions. Completing the test is required to unlock full functionality on your account.

You can retake the assessment as many times as needed until you pass.

Knowledge Assessment Study Guide

Below are six key areas of risk that every customer should understand before taking the assessment and investing in crypto:

Price Volatility

The value of cryptocurrencies can move up or down quickly; because markets can move unpredictably, no one — no matter how experienced — can guarantee profits or fully protect investors from losses. It is important to be prepared for ups and downs, and to avoid investing more than you are willing to risk.

Important:

• Crypto prices can change significantly in a short time.
• Investing in crypto carries real risks; gains are not guaranteed.
• No company or individual can promise that you won't lose money.

Liquidity Risk

Liquidity risk means the risk that you might not be able to buy or sell your cryptocurrency quickly at a fair price when you want to. In crypto markets, liquidity can sometimes be limited because: 

• There aren’t enough buyers or sellers at the time,
• The market is highly volatile,
• The platform you’re using is undergoing maintenance, outages, or restrictions.

This is why it is important to plan carefully and avoid relying on your crypto for immediate cash needs.

Important:

• Selling or withdrawing your crypto may not always be immediate.
• Only invest money that you can afford to lose.

Technological Risks

Since cryptocurrencies are digital assets, they rely heavily on technology and internet security. Security breaches, technical failures, or phishing attacks (where someone pretends to be a trusted source) are risks that all users should be aware of. These incidents can lead to unauthorized access to your accounts, loss of your crypto assets, or disruption of your ability to use the platform. Protecting your passwords, staying alert for suspicious communications, and using trusted platforms are important ways to reduce these risks.

Important:

• Technology failures or scams can result in the loss of your crypto.
• Always take steps to secure your accounts and stay cautious online.

Risks of Dealing with Unlicensed or Offshore Providers

Some crypto companies operate outside of local regulations, often based in other countries. While these platforms may offer attractive promotions or promises, using an unlicensed provider can make it harder to resolve issues if something goes wrong. Local consumer protections may not apply, and recovering funds can be complicated.

Important:

• Check a platform’s licensing and reputation before using it.
• The crypto exchange being based overseas may limit your options if problems occur.

Business Conduct Risks

Good crypto companies are clear and upfront about how they operate — they explain their products, fees, and how your funds are handled. If a company is vague or unclear, it may be a sign that they are not acting in your best interest.

It is important to look beyond promotions or popular endorsements. Reliable platforms focus on operating responsibly, maintaining strong internal checks, and following rules that protect customers. A company’s commitment to good business practices often matters more than short-term rewards or marketing.

Important:

• Trustworthy platforms communicate openly and operate responsibly.
• Good business conduct helps protect you and builds long-term trust.

Custody Risks

Custody refers to how your crypto assets are stored and safeguarded by the platform you use. Safe custody practices include separating customer funds from company funds and implementing strong security protections.

 Weak custody practices can increase the risk of loss or misuse of your assets.

Important:

• Understanding how your assets are stored is crucial.
• Secure storage practices help protect your investments.