As an officer for a regulated exchange, Winklevoss is not an unbiased observer. Nonetheless, Finance Magnate deemed his input relevant in exploring what impact regulated exchanges are having on attracting more mainstream investors to bitcoin.
Regulated Exchanges Emerge
Gemini is one of two exchanges regulated as a financial services entity by the New York Department of Financial Services (NYDFS), the other being itBit.
NYDFS granted trust charters to itBit and Gemini, both of which are based in New York. They can operate in all U.S. states as fully-regulated financial services entities and are exempt from the NYDFS BitLicense regulations the state enacted last year.
Some observers have theorized that mainstream investors, as opposed to day traders, would bring stability to bitcoin’s price.
Bitcoin Becomes Less Volatile
Last year was bitcoin’s least volatile year, Finance Magnates noted. Bitcoin was more stable than some conventional