The crypto twins, through their exchange, Gemini Trust Co. has encouraged the major players in the cryptocurrency industry to try their best by following the rules and regulations laid down by the authorities, as this will go a long way in protecting their numerous investors.
Follow Standard Best Practices
The exchange through a new ad campaign encouraged the sector to follow standard best practices and always to follow laid down regulations. The campaign also suggests that Gemini provides shelter from the storm.
The campaign which was spread all over New York city, read: “The Revolution Needs Rules,” “Crypto without Chaos,” “Money has Future.” The ad can be seen on taxi-tops, subways, and virtually on all mobile advert units and billboards.
“We believe that investors coming into cryptocurrency deserve the same protections as investors in more traditional markets, adhering to the same standards, practices, regulations and compliance protocols,” said Chris Roan, head of marketing at Gemini.
“In our competitive set there are widely varying degrees of adherence to regulatory guidance from people that oversee the more traditional financial marketers,” Mr. Roan added.
A Bridge Between the New and the Old
The firm also argued that some major players within the crypto community are devoted to decentralizing authority over money while others including Gemini are of the opinion that, there has to be a bridge between the new and the old way of doing things.
Image making is an essential tool, especially now that investors are skeptical about the crypto sector after a very troubling period in the history of the cryptocurrency industry.
Gemini is of the belief that if it can appeal to the sensitivities of the investors, while other major players also play along with laid down rules and regulations, it will help to instill more confidence in the investors and return the sector to its good old days.
Although, some crypto experts are of the belief that most regulations are meant to reduce their level of creativity and innovation, a loophole that was exploited by anti-crypto crusaders who are of the belief that the industry should be scrapped if it cannot dance to the tune of the regulatory agencies.
The Winklevoss twins are not optimistic about Wall Street backing the crypto industry; Tyler Winklevoss said in August 2018 that it would be a tough job for the world financial market to embrace cryptocurrency openly.