Gemini Exchange Sticks The Boot In As Regulatory Woes Pile On For Binance
As global regulators show no let-up on Binance, Cameron Winklevoss takes the opportunity to remind everyone, Gemini, which he co-founded in 2015, is fully regulated to operate in the U.S, including in New York. Gemini Exchange has always marketed itself as an above-board, regulated exchange that works closely with regulators. Now the net is closing […]
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Crypto exchange Binance.US has recently encountered many legal and financial obstacles amid heightened regulatory scrutiny. However, to restore a reliable influx of dollars, the exchange has allied with MoonPay, a payment startup renowned for its partnerships in the non-fungible token (NFT) sector, as reported by Bloomberg. This strategic collaboration addresses Binance.US’s challenges while injecting a […]
Binance is currently the largest exchange in the world in terms of the daily trading volume. It is incorporated in the Cayman Islands and has an office in Singapore. It, however, claims not to have a corporate headquarters. Recently, the company has faced regulatory issues in several countries, including the U.S., Hong Kong, and Malaysia. […]
The recent regulatory backlash against Binance could give a competitive advantage to regulated exchanges. Gemini exchange co-founder, Cameron Winklevoss, has stated the company expects to overtake the current largest crypto exchange by volume, Binance, predicting its emphasis on compliance will win out as regulators increasingly crack down on unregulated exchanges.As reported by Bloomberg on July 12, Cameron Winklevoss emphasized the importance of adhering to regulators’ demands, stating that Gemini is “playing the long game:"“We’re trying to be the fastest tortoise in the race. The long....
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....