New York Bitcoin Industry Recovering After BitLicence Fallout

Regulatory environments are slowly evolving, and many digital currency operations are now required to have specific licenses in order to offer their services. In a post-BitLicense environment, many companies have decided to exclude New York state clients, the home of Wall Street.

There are a handful of companies that have taken the road less travelled. Companies such as itBit and Gemini have obtained Trust Charters, avoiding the BitLicence altogether, allowing them to offer services in one of the world’s most lucrative markets. itBit obtained its charter earlier this year, while Gemini has made it one step further, launching a fully compliant and regulated bitcoin exchange in New York city.

Cameron and Tyler Winklevoss are venture capitalists, internet entrepreneurs, and the driving force behind Gemini, Latin for “twins.” The brothers first discovered bitcoin in 2012. “We were immediately taken in by Bitcoin’s elegance and enormous promise, and as we started to learn more, we became convinced that Bitcoin was the future of money,” Tyler stated in a Reddit Ask Me Anything

Read more ... source: TheBitcoinNews