Gemini sees benefits in regulating the crypto industry

Regulation of the cryptocurrency market legitimises the industry, and compliance with regulatory requirements is a competitive advantage for platforms. Such a view was presented by Gemini’s chief operating officer Noah Perlman, according to Decrypt.

The Bitcoin exchange was one of the first получила license from the New York Department of Financial Services.

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 prioritises safety, regulation and compliance. Our clients attach great importance to this, — said Perlman.

Gemini takes a meticulous approach to listing — the process involves auditing and security analysis. According to the senior executive, such an approach pays off in the long run. To date, Gemini has never had to remove any particular cryptocurrency from its asset list, he added.

Perlman stressed that engagement with regulators takes place in a dialogue format, rather than by following top-down directives. In his words, the industry as a whole will benefit from this.

The COO of Gemini urged skeptics not to view NFTs subjectively, noting that non-fungible tokens possess usefulness and potential. He also stated that he does not spend his digital gold, though he is not a Bitcoin maximalist.

Earlier in January, Gemini agreed to acquire the BITRIA platform for portfolio management of digital assets for financial advisers and asset managers.

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