Gemini, run by the Winklevoss twins, is one of the most Wall Street oriented exchanges on the crypto markets. Originally envisioned as “bitcoin in a suit,” it is now leading the way in self regulation with a new Virtual Commodity Association, a self-regulating group that aims to take the guesswork out of crypto in the future.
“We believe a thoughtful SRO framework that provides a virtual commodity regulatory program for the virtual commodity industry is the next logical step in the maturation of this market. We look forward to engaging with industry leaders, participants, regulators, and legislators on this proposal,” the write.
The group will perform the following functions:
Foster financially sound, responsible, and innovative virtual commodity markets through a system of…