The Bitcoin exchange founded by Tyler and Cameron Winklevoss, Gemini, will start accepting deposits ter ZCash on Saturday, May Nineteen th , expanding their current offerings that include Bitcoin and Ethereum. ZCash trading will start on May 22 at 9:30am EDT. Approvals will soon go after for Bitcoin Contant and Litecoin.
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This expansion of the Gemini cryptocurrency exchange goes after approval from the Fresh York Department of Financial Services. Compared to other states, Fresh York has among the strictest regulatory frameworks for digital currencies, under BitLicense. Presently, Gemini abides by regulations te 48 US states, Washington DC, Puerto Rico, Canada, Hong Kong, Singapore, South Korea and the UK.
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Wij are not financial advisors, and you should seek the advice of a professional if you are programma a major investment. But wij would expect that the listing of ZCash, Litecoin and Bitcoin Contant on Gemini will have a positive result ter their prices and trading volume. Presently, ZCash has spiked te value with a high close to $320 on May 14, compared to a price of approximately $250 ter the days leading up to this news, and a previous high of $310 for the month of May. ZCash had another peak ter January, when it traded at overheen $763.
Cameron Winklevoss stated, Our approval makes Gemini the very first licensed Zcash exchange ter the world. It also makes the NYSDFS the very first regulatory agency ter the world to supervise Zcash. Indeed, Gemini should be commended for their capability to navigate the system te a way that provides consumers with another trading option. Unluckily, such regulatory systems have the negative, perhaps unintended consequence, of creating a virtually unlikely barrier to entry for fresh start-ups that lack the funds that exchanges such spil Gemini are able to afford. When BitLicense wasgoed enacted ter 2018, overheen a dozen cryptocurrency start-ups left Fresh York State, creating an environment that is beneficial to monopolies. Ter this regard, having Gemini spil another choice for thesis trading pairs, wij can perhaps expect that Coinbase/GDAX will improve their service, or lower its price, or expand the number of coins available on its exchange, spil a response.
Winklevoss went on to explain the privacy benefits of ZCash. Spil a privacy coin, it enables two parties to exchange ZEC coins anonymously, using a technology dubbed zk-snarks, for zero skill. Such technology may be utilized on a number of other blockchains, while maintaining the integrity of the gegevens. This privacy feature of ZCash provides value to people te opporessed nations, spil well spil those who wish to exercise their natural rights to privacy. However, governments have a tendency to perceive privacy spil a threat, and often enact AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations te response, thereby virtually eliminating a portion of the privacy value associated with ZEC, where it all but vanishes merienda the coins are posted to an exchange.
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All of the coins that will be suggested on Gemini are ter some way forks of Bitcoin, with added functionality such spil the privacy features associated with ZEC. Dubbed the Nakamoto Family Tree by Winklevoss spil a nod to Satoshi Nakamoto, the creator of Bitcoin, thesis coins were most likely lighter to integrate from a coding perspective than newer generation blockchains. Te this way, wij might be able to predict that other Bitcoin forks may take priority spil additions to Gemini if such expansion were to occur ter the future.