Gemini Exchange Moves Toward Launch With Twin NYDFS Approvals

Gemini Exchange Moves Toward Launch With Twin NYDFS Approvals

Gemini, the New York-based bitcoin exchange currently being developed by investors Cameron and Tyler Winklevoss, has received two key approvals from the New York State Department of Financial Services (NYDFS). Gemini Trust Company received approval on 23rd September for its Articles of Organization, and was granted an exemption from the deposit insurance requirements of Section 32 of the Banking Law, steps president Cameron Winklevoss said put it on the "one yard line" for completing its current goal of entering the US market. Cameron Winklevoss explained that, with its Articles of....


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Winklevoss Brothers File Trust Application for Gemini Exchange

Entrepreneurs Cameron and Tyler Winklevoss have filed an application for a limited liability trust company in New York. The filing for Gemini Trust Company, if approved by the New York State Department of Financial Services (NYDFS), would enable the Winklevoss brothers to launch Gemini, their forthcoming bitcoin exchange product first announced in January. The announcement notably follows itBit's May announcement that it received a trust company charter from the NYDFS. Under New York banking law, trust companies are financial institutions that, while unique from banks, are able to take....

Winklevoss Twins File Trust Application with NYDFS for Gemini Bitcoin Exchange

On July 21, 2015, Tyler and Cameron Winklevoss, the founders of Winklevoss Capital, filed an application with the New York Department of Financial Services (NYDFS) on behalf of Gemini Trust Company, LLC, which will operate as a New York Limited Liability Trust Company. According to a spokesperson, the Gemini exchange will be open to the general public as well as institutional investors once a Certificate of Authorization is issued by the NYDFS. Evan Greebel of Kaye Scholer is advising on this launch. This trust company structure is the same one used by NY-based bitcoin exchange itBit,....

Gemini Bitcoin Exchange of Winklevoss Twins Gets NYDFS Approval

Gemini, a New York-based bitcoin exchange being developed by the Winklevoss twins of Facebook-fame, just received approval from the New York Department of Financial Services (NYDFS). Many investors had been waiting with bated breath for this announcement, following the implementation of New York's BitLicense which has posed regulatory challenges for some cryptocurrency startups. The agency granted approval for Gemini's Articles of Organization and its application for exemption from the deposit insurance requirements of Section 32 of the Banking Law, based on the NYDFS Weekly Banking....

Winklevoss Bitcoin Exchange Gemini to Launch Ether Trading

Gemini, the bitcoin currency exchange operated by investors Cameron and Tyler Winkelvoss, has received approval from the state of New York to offer trading for ether, the native token of the Ethereum network. The New York State Department of Financial Services (NYDFS) announced the approval today, a move the department said was necessary given that the agency has the mandate to review any material changes to the services offered by industry firms. The exchange, approved to open last October, had received the greenlight to operate as a limited purpose trust company from the NYDFS, though....

Winklevoss Twins Announce the Launch of Gemini Bitcoin Exchange

Investors have been watching and waiting for the launch of Gemini, the bitcoin exchange launched by Cameron and Tyler Winklevoss, since it was first announced on January 23. The wait is over. Customers have been begun receiving instructions for onboarding and will be able to officially begin trading on the Gemini exchange starting Thursday, October 8 at 9:30 a.m. EST. The nine months it took for Gemini to go from announcement to launch is due to a belief in the need to "ask for permission, not forgiveness." However, on September 23, Gemini Trust Company received approval for its Articles....

Quotes

I think the fact that within the bitcoin universe an algorithm replaces the functions of [the government] ... is actually pretty cool. I am a big fan of Bitcoin... Regulation of money supply needs to be depoliticized.

Al Gore, former US Vice President and winner of Nobel Peace Prize