Gemini Crypto Exchange Set To Add (BCH) & (LTC)
The Gemini crypto exchange is adding more tokens to its platform following a revelation by the Winklevoss twins. The crypto exchange has announced the new additions will be Bitcoin cash (BCH) and Litecoin (LTC).
The crypto giant which currently trades in Bitcoin and Ethereum only recently partnered with Cboe Global Markets Inc. to provide Bitcoin futures. The exclusive deal seeks to see Gemini supply data to Cboe for Bitcoin Contract calculations.
According to Tyler Winklevoss, the agreement is scalable and there's room for expansion in terms of offerings. Hence the addition of Bitcoin cash (BTC) and Litecoin (LTC) added to the exchange.
The other cryptocurrency exchange that already supports Bitcoin Cash (BCH) and Litecoin (LTC) is the Coinbase. However, Gemini Exchange will have an upper hand as Coinbase is tangled in two lawsuits.
The SEC Position On Gemini Crypto Exchange
The U.S Securities and Exchange Commission announced that crypto exchanges will have to file their registration as a national exchange with the commission in order to protect investors from fraudulent activities. The Winklevoss twins applauded this move as it will reduce incidents of fraud. Gemini crypto exchange is licensed and regulated under the ‘Bitlicense’ laws by the New York State Department of Financial Services (NYSDFS).
According to the SEC’s Division of Enforcement and Trading and Markets, exchanges that trade in digital assets such as securities as defined by the federal securities laws must register with the SEC or be exempt from registration to be operational.
As the cryptocurrency industry continues to evolve at a fast pace, bold plans seem to be underway. With the announcement of additional currencies on the Gemini exchange, the platform is one that investors should watch out for.
Investors are getting more involved in the crypto space as the demand for cryptocurrencies increases in 2018.