The Gemini CEO has stated that it is no longer feasible to .ban Bitcoin because it has become too interwoven into the world.
In recent times there have been threats of Crypto ban by the United States of America, but in a counter attack, Tyler Winklevoss, the Gemini CEO , said is not feasible.
According toi Tyler Winklevoss, he said:
“I think that the U.S. will never outlaw Bitcoin. There’s too much precedent that’s been set in the courts. The Coinflip order, which was a CFTC [Commodity Futures Trading Commission] enforcement action which was upheld in the courts, considered Bitcoin a commodity like gold.”
In the midst of dealing with Deivabit, a BTC option trading platform, the CFTC has referred to BTC as a commodity. A product of the Derivabit company called Conflip,
Was not in violation of the governing body as at 2015.
Winklevoss continued that:
“We are a New York trust company regulated by the New York Department of Financial Services,” Winklevoss continued, referring to Gemini. “So much would have to be undone,” he said of a Bitcoin ban, adding:
“You’re talking about like companies that are providing careers, building the economy, some of them are going public. They’re going to become drivers of the stock market. To unroll that back is so unlikely to me. Of course it’s not 0%, but it might as well be.”