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July 26, 2015

Winklevoss twins get closer to launching their bitcoin exchange

by John_A

Cameron and Tyler Winklevoss at a virtual currency hearing

You may still think of the Winklevoss twins as those guys who claimed to have invented Facebook, but they’ve just taken a big step toward making their names in the digital currency business. The two have filed a New York trust application necessary for them to launch their Gemini bitcoin exchange. The move won’t put Gemini on the same level as a bank if it’s approved, but it will let the exchange accept deposits, issue loans and serve as an agent for government institutions.

This won’t be the first time that a bitcoin exchange has launched since New York implemented its BitLicense rules — ItBit managed to beat Gemini to the punch. However, the Winklevii are hoping that their higher-profile service will be the ticket to legitimizing bitcoin in the US, where virtual money is only just finding its feet.

[Image credit: AP Photo/Craig Ruttle]

Filed under: Internet

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Via: Reuters

Source: Coindesk

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