New York authorities have issued a work permit to the Gemini exchange from the Winklevoss brothers

Brothers - athletes, millionaires and stockbrokers

The Winklevoss brothers finally received permission to operate their Gemini cryptocurrency exchange from the New York State Department of Finance ( New York State Department of Financial Services ). Their company received the status of limited liability trust (something like a fund with limited liability). Such a license imposes more restrictions on the company than the standard BitLicense, which is becoming standard for cryptocurrency organizations.

The twin brothers Winkloss, Cameron and Tyler, made their $ 65-million state, condemning Zuckerberg for stealing ideas from the social network. They became interested in cryptocurrency in 2013, but so far their path has not been very successful. The first company, the Winklevoss Bitcoin Trust, did not recommend anything special.
')
Charlie Shrem, the head of their second company, BitInstant, was found guilty of complicity in money laundering related to the Silk Road site, where drugs and other prohibited goods were sold. The company worked as an operator of crypto payments. The twins managed to get out, saying that they were passive investors.

In 2014, they launched Winkdex , a bitcoin price tracking service. And in early 2015, they announced the opening of the exchange for the exchange of Gemini cryptocurrencies.

As the Tyler Winkloss explained, the brothers did not specifically apply for a license like BitLicense, because they wanted their market to be taken seriously "on Wall Street and on Main Street" (that is, both in financial markets and in the investment market and the real economy ).

It is planned that the exchange, which has not yet opened, but is already accepting applications for registration, will rotate both cryptocurrency and ordinary ( fiat ) money. The exchange will charge a commission of 0.25%.

Bitcoin for several years attracted the attention of governments and financial institutions, and in most countries have already decided on its legalization . But while the exchanges, in which you can exchange cryptocurrencies for real and vice versa, operate in semi-legal or illegal modes. Winkloss hopes to be the first to firmly establish cryptocurrencies in the series of generally accepted financial instruments.

The rules of the BitLicense license in New York were established in August 2015, and first issued in September. Due to the rather strict working conditions, many cryptocurrency companies have announced that they have stopped their activities in this state. The newspaper The New York Business Journal called this event "a great bitcoin outcome ."