Gemini Bitcoin Exchange Launches, Needs No BitLicense or FinCEN
The Winklevoss Twins have announced the launch of their long-awaited Bitcoin exchange, Gemini. Somewhat like itBit, which applied for a banking license rather than wait for the completion of the BitLicense, Gemini Trust Company, LLC is regulated as a fiduciary. This means they can service both individual and institutional clients, among other things. Meeting the high-water mark of banking compliance is no small task, especially for a startup, but we felt that doing so was crucial - Bitcoin is an island right now, and, if we are going to build a bridge to the financial mainland, then Gemini....
Related News
The Gemini exchange, founded and operated by Tyler and Cameron Winklevoss has gained the approval from the State of New York via the Department of Financial Services to offer trading of Ether, the crypto-asset and token of the Ethereum network. In an announcement today, the New York State Department of Financial Services has given its approval for Gemini to offer trading of Ether, the native token of Ethereum. Gemini launched in October 2015 after gaining a charter to operate as a virtual currency exchange, without the need for a BitLicense whilst regulated as a fiduciary, granting it the....
The digital currency ecosystem in New York State is currently hanging on a string as the deadline to apply for BitLicense closes. Today, the 8th of August 2015 marks the end of 45 day grace period extended to Bitcoin and digital currency companies in the state to apply for BitLicense. Few Bitcoin companies like ShapeShift, Eobot and Poloniex have already left New York State for good. ItBit became the first company to receive BitLicense and Gemini, the exchange whose promoters are Winklevoss Twins is still awaiting confirmation. All these companies falls on either side of the spectrum,....
Gemini Earn gives users up to 7.4 percent APY on the bitcoin or other cryptocurrencies they hold on the exchange. The post Gemini Launches Interest-Earning Program For Bitcoin appeared first on Bitcoin Magazine.
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....
Bitcoin trading volume at the newest Bitcoin exchange, the Winklevoss twin's Gemini, has surged 40,000% in the three weeks since its opening. Despite these numbers, the overall volume at the exchange remains trumped by that of other exchanges. Targeting the stock market investor, Gemini commands considerable per transaction volumes. A high percentage of transactions on the website are comprised of 50 bitcoins or more. Data: Bitcoinity. The makeup of the Gemini customer is unknown. While some believe certain investors were waiting for a fully-regulated and insured exchange to operate in....