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Regulation of the cryptocurrency market legitimizes the industry, and compliance with regulations is a competitive advantage for platforms. This point of view was presented by Gemini COO Noah Perlman, writes Decrypt.
The Bitcoin exchange was one of the first to obtain a license from the New York State Department of Financial Services (NYDFS).
4/ Gemini is proud to be one of the first crypto platforms to be regulated by NYDFS and we look forward to continuing to support the Superintendent and NYDFS to ensure the responsible growth of crypto in New York.
— Cameron Winklevoss (@cameron) April 10, 2022
“Gemini prioritizes safety, regulation and compliance. Our customers attach great importance to this.”Pearlman said.
Compared to other platforms, Gemini is meticulous about listing – the process involves auditing and security analysis. According to the top manager, such an approach is justified in the long term. To date, Gemini has never had to remove a particular cryptocurrency from the list of assets, he added.
Perlman emphasized that communication with regulators takes place in the format of a dialogue, and not in the form of following instructions from above. According to him, the industry as a whole will benefit from this.
COO Gemini urged skeptics not to treat NFTs subjectively, as non-fungible tokens have utility and potential. He also stated that he does not spend his digital gold, although he is not a bitcoin maximalist.
Recall that in January, Gemini agreed to acquire the digital asset portfolio management platform BITRIA for financial advisors and asset managers.
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