The Gemini Exchange aptly got its name, as a result of its two founders, who were the Winklevoss twins. They are a New York digital exchange that is regulated by the New York State Department of Financial Services (NYSDFS). Although they are held to the highest level of capital reserve requirements, and banking compliance standards, they have faced criticism, due to the fact that at the launch in late 2015, they only allowed US citizens on to board, in 26 states and Washington DC. They applied for status as a New York State limited liability Trust, rather than a Bitlicence, which makes it different to other exchanges. Unlike others, it gives the exchange the ability to deal with both institutional clients and individuals. The founders have plans to allow access to other crypto markets when the time comes as well. There are no deposit and withdrawal fees and trading fees are 0.25% off both sides of the trade.