The popular digital asset exchange service Gemini has made a foothold in Washington, USA. This is a milestone achievement of the exchange owned by the Winklevoss brothers. It is worth noting that Washington has some of the highest standards of oversight for digital asset exchanges within the U.S., and will be instituting further regulations regarding the sale and storage of digital assets beginning next month.
This puts Washington up with New York at the forefront of protecting consumers and users of digital assets, beyond what is already done for fiat currencies which will give the crytocurrency ecosystem a positive boost.
According to Cameron Winklevoss, co-founder and President at Gemini:
“We’re excited to announce that Gemini is now licensed to provide our services to customers in the Evergreen State. One of Gemini’s core values has always been to seek regulatory oversight and licensing whenever possible. And we firmly believe in asking for permission rather than for forgiveness—we do not operate in an area until we have received the necessary licenses or regulatory approvals to do so. Our trust license from the State of New York allowed us to work closely with both New York and Washington state regulators to obtain approval to operate. It was truly exciting and remarkable to see this collaboration between two of the most well respected state regulators, all in the name of innovation.”
This is great news for Washingtonians who will see this a welcome development as the digital asset ecosystem continues to grow. According to reports in their official site, from today onward, registered customers in the Evergreen State can buy, sell, and store both bitcoin and ether using the Gemini exchange. As a registered customer, this will allow you to:
i. Buy BTC with USD or ETH, and sell BTC for USD or ETH
ii. Buy ETH with USD or BTC, and sell ETH for USD or BTC
With this news, we believe that every cryptocurrency enthusiast/lover out there will agree that this is a solid achievement not only for Gemini, but also for the regulated US digital asset ecosystem.