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Noah Perlman, chief operating officer of cryptocurrency exchange Gemini, sees regulation as a competitive advantage, especially when it comes to cryptocurrency exchanges.
At the Bitcoin 2022 conference, Noah Perlman revealed that Gemini is focused on security, regulation, and compliance. The founders of the exchange, Tyler and Cameron Winklevoss (Cameron, Tyler Winklevoss), believe that regulatory compliance can be a competitive advantage of the exchange and its hallmark in the market.
Gemini is regulated by the New York City Department of Financial Services (NYDFS) and has a rigorous listing process that includes code audits and security reviews. Perlman says the effort is worth it in the long run because “it’s better to ask for permission than to ask for forgiveness later.” However, this does not mean that the management of the exchange is afraid to argue with the regulators:
“We are looking for regulation and cooperating regulators. But that doesn’t mean we just do what we’re told, and believe me, we resist if the conditions set are against Gemini policy. We believe that careful regulation is good for the entire industry, not just us.”
The expert also shared his opinion about bitcoin, saying that he is optimistic about the future of the first cryptocurrency. Perlman sees bitcoin as a long-term store of value and hedge against inflation.
Recall that earlier Gemini received a license from the Central Bank of Ireland to work with electronic money, which will allow the platform to operate in the country.
#regulation #good #cryptocurrency #industry