Co-founder and President of the bitcoin exchange Gemini, Cameron Winklevoss commented on the recent advertising campaign platform, held under the slogan “Bitcoin needs regulation”. In particular, he explained that the rules need not the bitcoin, and the companies participating in this industry, especially in light of recent events around the exchange QuadrigaCX. This writes Bitcoinist.
It is no secret that the brothers Winklevoss for a long time expressed the need “rehabilitation” of the cryptocurrency industry, which throughout history pursued the hacks and scams, with the help of Gemini want to help her to get rid of the comparisons with the “Wild West.”
At the same time launched in January advertising campaign Gemini was subjected to considerable criticism from the bitcoin community is convinced that the only possible rules are rules of the Protocol itself, the fulfillment of which ensures your own full node.
Fixed it pic.twitter.com/Xatbxdo3vv
— Peter McCormack (@PeterMcCormack) January 5, 2019
His belief that the activities of cryptocurrency companies should be regulated by the state and that investors can’t get enough protection on the unregulated market brothers Winklevoss reiterated shortly after the start of the January campaign.
Now Cameron Winklevoss has continued this theme, explaining that the cryptocurrency in the rules does not require, however, these rules required companies. In an argument, he attached to his tweet the screenshot with the excerpt from the third report submitted by the Supreme court of Nova Scotia auditor QuadrigaCX Ernst & Young. In it, in particular, it refers to the 14 identified accounts that were created inside exchange outside of normal process and they had made “artificial” deposits, the funds from which were then used for trading.
Some have wondered why @Gemini believes the Revolution Needs Rules. Answer: Crypto doesn’t need rules, but the companies built on top of it do. See excerpt from court-appointed monitor’s (Ernst & Young) third report filed in Nova Scotia Supreme Court re: QuadrigaCX matter pic.twitter.com/Dvw8Am5H9M
Cameron Winklevoss (@winklevoss) March 14, 2019
The situation with the QuadrigaCX Cameron Winklevoss also raised in the joint with brother Tyler’s speech at the SXSW conference in Austin, Texas, this week.
“On the way cryptocurrencies we’ve seen a lot of corpses, and it was a good lesson. In the end, we are talking about the issue of trust. To achieve positive results needs some adjustment,” he said.
Additionally my thoughts on this question the head of the Gemini outlined in a recent blog post, saying the story caused the QuadrigaCX bitcoin industry’s reputation.
“You’re not going to keep their money in an unregulated Bank, and the same should be true for tripolarity”, — said Cameron Winklevoss.
He did not ignore a party and “Protocol rules”, which, as we have often said already have enough rules.
“We agree, but the protocols control the flow of funds within systems. They do not allow to monitor companies that build solutions on top of the protocols. All incidents in kriptonyte to date was a human problem, not a problem of crypto-currencies”, — said Cameron Winklevoss.
For this reason, he concluded, Gemini will continue to do everything possible to work within a regulated field, offering maximum protection to investors and will continue to play an important role in the efforts of associations of virtual commodities (VCA).