The major exchange Gemini owned by the Winklevoss brothers is in our latest cryptocurrency news – mainly for the recent decision to add support for the altcoin Bitcoin Cash (BCH). As the firm announced this Friday, the New York-based startup is only supporting the fork of Bitcoin Cash based on the Bitcoin ABC roadmap and not its alternative version which is Bitcoin SV (BSV).
The difference arises after the controversial hard fork last month where the Bitcoin Cash network split into two different and competing blockchains with their own tokens. As the engineering VP at the exchange Eric Winer wrote:
“Any cryptocurrency sent to Gemini over a blockchain that we do not support, such as Bitcoin SV (BSV), will be invalid and irrecoverable. We are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.”
Gemini also added that the New York State Department of Financial Services (NYDFS) officially supports the Bitcoin Cash (BCH) listing and approves it, allowing the exchange to offer both trading and custody services to its customers within the state of New York.
Starting today (Saturday at 14:30 UTC), customers will be able to deposit Bitcoin Cash (BCH) into their accounts and the trading will start on Monday at 18:00 UTC. At launch, BCH can be traded against USD, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Zcash (ZEC).
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