Winklevoss Brothers Launch Virtual Commodity Association

The crypto billionaires twins believes that creation of this self-regulation organization is a necessary condition for market development
14 March 2018   981

Cameron and Tyler Winklevoss, the founders of the Gemini trading platform, made public the proposal that a specialized organization for the self-regulation of the cryptocurrencies called the Virtual Commodity Association (the “VCA”) could be established in the US.

Brothers think that the creation of such an organization is a necessary condition for the further development of the market.

The SRO approach has historically worked to protect and police various markets. For example, the National Futures Association is an SRO (self - regulation organization) for the U.S. derivatives industry and is a model for how the VCA can work together with the CFTC to provide additional oversight to virtual commodity cash markets. The promise of virtual commodities and their impact on the future will be profound — but individuals and institutions need to feel safe and secure when transacting. We believe a thoughtful SRO framework that provides a virtual commodity regulatory program for the virtual commodity industry is the next logical step in the maturation of this market.

Winklevoss Brothers

All crypto trading platform, serving American traders will be able to take part in new SRO. Members of the organization will have to agree with the rules governing the principles of safety management, tax reporting and dissemination of information. SRO participants will not be able to list tokens, which can be classified as securities, if they do not have the appropriate license.

Coinbase US Customers Can Convert Crypto to Gift Cards

Coinbase customers received interesting proposal right before Christmas gifts purchase time
11 December 2018   35

The largest US cryptocurrency company Coinbase announced the expansion of partnership with a London startup WeGift.

Using the Coinbase wallet, American users can buy gift certificates from dozens of retailers, including Uber, Nike and Gap.

To do this, users need to visit the website of the WeGift service and associate it with the Coinbase wallet. As a bonus, when purchasing gift certificates, users do not have to pay a withdrawal fee.

Earlier, this opportunity from Coinbase and WeGift was available only in a few EU countries.