Gemini Seeks Open Minds and Open Dialogue With Financial Regulators

[waybesuricata]

Andy Meehan, chief compliance officer for Gemini, has called upon regulators to maintain open minds and open dialogue as most exchanges try to ‘do the right thing’. Meehan made the appeal in a recent interview with Blomberg TV, being careful to couch his language in as sympathetic a fashion as possible.

During the interview Meehan found himself striking a delicate balancing act, praising regulators even while making the argument that fresh thinking is required from the people in charge.

“I think the biggest thing that I would want regulators to keep in mind is to keep an open dialogue with the exchanges whom they are regulating,” said Meehan. “Most of the exchanges out there are trying to do the right thing here. I think that we’re learning at the same time as the regulators, maybe we’re a couple of steps ahead just because this is all we do, but there are lots of things we can work together on.

“I think that one of the challenges is trying to break away from a closed mindset that all the regulations are out there, we just need to fit crypto into the right box. I’m not sure that’s the case. This really is a new technology and a new industry, and I think we have to be open-minded about the best way to regulate it. That doesn’t mean that we’re going to regulate it any lighter than any other financial product it just means that there may be better ways of going about that.”

It was a deftly handled critique, mirroring the conciliatory tone which Changpeng Zhao has made a feature of his own recent TV appearances. The Binance CEO recently made it clear that Binance.US is now moving to complete a funding round within the next few months. For that reason, among others, CZ has been attempting to build up some goodwill from US regulators.

Gemini recently completed its own $400 million growth equity round led by Morgan Creek. According to a November 18 press release, the Winklevoss-owned Gemini exchange is now valued at $7.1 billion.


Source and continuation of news: https://beincrypto.com/gemini-seeks-open-minds-and-open-dialogue-with-financial-regulators/