Winklevoss twins respond to backlash over "Crypto needs rules" ad campaign

26 Jan, 2019
by David Borman
News
Winklevoss twins respond to backlash over Crypto needs rules ad campaign

Bitcoin News is reporting that Tyler and Cameron Winklevoss are responding to criticism they have received for the recent ad campaign they ran on New York City subway's and cabs, which expressed statements such as "Crypto needs rules," and "Money has a future."

Apparently the message that Gemini is coming in to give "rules" to cryptocurrency trading is offensive to many who feel crypto was created to escape the rules that have always been imposed in banking.

Read more: "Money has a future": Reddit spots crypto exchange ad in NYC subway

Chris Roan of Gemini marketing responded with the following:

"We believe that investors coming into cryptocurrency deserve the exact same protections as investors in more traditional markets, adhering to the same standards, practices, regulations and compliance protocols"

The Winklevoss twins themselves have argued that these rules are being brought in to align the crypto markets with the international fiat markets, which should give most investors comfort. They doubled down by connecting their philosophy to the concerns over global terror:

"Terrorist financing is a real thing. Being a New Yorker and living in New York, you know, September 11, is a real thing and that’s really, that’s the overarching goal of [the Bank Secrecy Act and anti-money laundering laws]."

Whether this connection is valid is debatable, but it looks like nothing is going to sway Gemini and the brothers Winklevoss from trying to have a hand in regulating the market.

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