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The Winklevoss Twins Propose to Strike a Balance of Privacy and Regulation

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The Winklevoss Twins Propose to Strike a Balance of Privacy and Regulation

Tyler and Cameron Winklevoss, Gemini exchange co-founders, have proposed a middle ground; a hybrid approach towards privacy policy and government. To quote the brothers from a recent podcast that took place on 22 May 2020, “The independence and sovereignty around crypto is unmatched with any technology before, but the onramps have to have an element of thoughtful regulation.” 

Cameron highlights the flaw of the markets of being unregulated and holding on to extremities like ‘either-or’ and ‘all or nothing’. Tyler and Cameron are popularly known for their regulation friendly outlook where every operation is balanced. It is to the brothers’ belief that regulation and the freedom of the customers can meet in the middle. 

Extremities can have adverse effects on crypto exchange markets. Having said that, many markets are flawed because they have zero regulation and no negotiation at all, Cameron notes explaining his criticism of unregulated markets. According to him, the ‘free-for-all’ strategy does not materialize itself and is a utopic vision in itself whereas overregulating can restrain the progress of crypto as a whole. 

The Need for a Middle Ground 

Tyler notes that a regulatory approach can provide liberation to the customers as well. It will create a space for them to judge, to agree, and to disagree. To quote Tyler, “You can be pro-regulation, but disagree with the state of regulation.”  

Gemini’s approach of regulation assures protection of the users’ data, unlike other technology giants that, at times, fail to protect user data, failing to gain the trust of their customers.  The brothers, Tyler and Cameron have been tagged as the most influential duo functioning in the crypto space. Gemini crypto exchange was founded by them in 2015 which turned out to be a success for its unique strategies and philosophies within a brief period. 

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I am a content writer with interests in life sciences and blockchain. I believe that blockchain has the potential to transform every aspect of human endeavor. I love surfing the internet, reading, learning new things, and trying new cuisines.

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