Winklevoss Twins: Regulators More Comfortable With Zcash Than Monero

Winklevoss Twins: Regulators More Comfortable With Zcash Than Monero

The Winklevoss Twins have been going through a media blitz related to their new ad campaign focused around the positive aspects of clear crypto asset exchange regulations in New York, and their interview tour recently took them to Laura Shin’s Unchained podcast. During the interview, the Winklevii explained their thought process when it comes to listing new crypto assets for trade on Gemini, which is the digital asset exchange they launched in 2015 . It was during this portion of the discussion that the Gemini co-founders revealed they chose to list Zcash and not Monero because they believed regulators would have a more favorable view of the former of the two privacy-focused altcoins.

How Gemini Decides to Add New Crypto Assets

The Winklevoss Twins were originally asked about their coin listing policies in the context of Bitcoin Cash. According to the twins, Gemini received approval to list the spinoff coin before the crypto asset split into two separate coins: Bitcoin Cash ABC and Bitcoin Cash SV (sometimes referred to as simply Bitcoin Cash and Bitcoin SV respectively). However, the company decided to take a conservative approach with listing the altcoin.

“We said you know what, we’re going to wait this out and let the dust settle,” said the Winklevii in regard to the Bitcoin Cash hard fork.

According to the Winklevoss Twins, Gemini is still in the process of developing internal rules for the listing of new assets on the exchange.

“For each coin up to this point, it’s been a sort of a case by case situation,” said the Winklevii. “We look at the team, the use case, the proposition of the coin. Is it doing something unique or is it just another me too and is it truly, you know, solving an authentic problem that those are the general common-sense things that we look at and will it pass muster with regulators?”

Choosing Zcash and Not Monero

On the point of appeasing regulators, the Winklevoss Twins gave Zcash as a quick example of how the coin listing process has worked in the past.

“Obviously, we listed Zcash,” said the longtime bitcoin advocates. “We didn’t attempt to list Monero and we felt that Zcash was the privacy coin that we could get our regulators comfortable with.”

For now, Gemini does not want to publish a specific framework for listing new crypto assets because they want to narrow down all the details before going public with their thought process. The Winklevoss Twins added that it’s likely something will be published by Gemini around this topic over the coming year.

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