Gemini’s addition of Bitcoin Cash and Litecoin might mean their Bitcoin futures partner CBOE will also move on with expansion. The Winklevoss said they are pleased with the latest move by SEC to require crypto exchange platforms to register with SEC.
The expansion of the platform may also lead to CBOE, which provides Bitcoin futures contracts, offering other cryptocurrency futures. CBOE has already announced that it will start doing so. Tyler Winklevoss told Bloomberg that the licensing agreement with CBOE is scalable and was entering knowing that the offerings could expand. CBOE basis its futures pricing on the Gemini platform data.
Gemini exchange was the first licensed crypto trading platform. However, the twins are asking to have praised the recent move and Wednesday announcement by the U.S. Securities and Exchange Commission to require cryptocurrency exchanges to register with SEC. Cameron and Tyler Winklevoss said this on Thursday at a Cboe event in Florida.
Gemini platform is licensed and operates under the New York State Department of Financial Services (NYSDFS) under its “Bitlicense” laws. Under the new directions from SEC, platforms will need to register as a national exchange or qualify for an exemption.
They said that their primary goal this year is to see an expansion of the trading platform. The Winklevoss’ said they are not concerned with the current drop in Bitcoin volumes. As it has happened before and the long-term trend was in the right direction.
They said futures are off to an incredible start noting that the customer quality and institutional base is better than a year ago.