The suitable banking regulations can brighten the future of cryptocurrencies. These are the words said by Gemini’s twins Tyler and Cameron Winklevoss. According to them the market condition of cryptocurrency is not having any growth. But in future, if the regulations are applied and used currently then the scenario will change. These twins have contributed a lot to the cryptocurrency sector which is notable. Since from 2014, they are launching new services under their brand name “Gemini”.
Twins have conducted a campaign to promote the various cryptocurrency services provided by their “Gemini” to gain more users. They did this on the tenth anniversary of the Bitcoin with an advertisement in the New York Times.
After the launch of Gemini in 2014, Winklevoss twins have been successful in getting all the necessary license and permission even though they were giving services with limited cryptocurrency trade.
“The idea is that companies that build on top of things like Bitcoin should have the regulation that’s thoughtful and that doesn’t stifle innovation.”
Everyone thinks that crypto assets addresses are kept anonymous. It is the biggest misconception and this is hindering the market growth of the cryptocurrency. The digital asset address can be viewed in its blockchain. According to the Winklevoss brothers, media is also spreading undesired news mentioning that digital currency is profitable especially for the criminals.
There is no comparison between cultural assets like gold and digital. Both are similar but the only difference is gold is having a huge history of 3000 years. Last year twins failed to launch Bitcoin ETF even after providing insurance on the digital assets and custody services for the Gemini users.
Now the twin brothers believe that stablecoin has the long term market growth in-terms of cryptocurrency development and usage.