Gemini Bitcoin Exchange of Winklevoss Twins Gets NYDFS Approval

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....


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