Gemini, bitcoin exchange founded by Cameron and Tyler Winklewoss, will start trading in New York on 8 of October. Winklevoss brothers managed to circumvent bitcoin with the help of Banking Law.

The company announced the coming launch on the corporate blog.

“We have begun sending out invite codes so you can create and fund your account in preparation for trading, which officially begins on Thursday, October 8th at 9:30 AM EDT. If you haven’t done so already, you can request an invite code by clicking “Get Early Access” on the Gemini homepage” says the announcement.

The company claims that all the operations will be fully legal.

“The  Gemini Trust Company, LLC, a New York state limited liability trust company, which makes us a fiduciary, and allows us to accept both individual and institutionalcustomers under New York Banking Law (unlike the BitLicense, which does not convey such fiduciary powers).”

At the beginning, new company will operate in 26 states and Washington DC.

Winklevoss twins announced the launch of the “next generation” fully regulated bitcoin exchange last January. The new platform is fully compliant with the BitLicense regulations and linked exclusively to regulated banks in the United States. Winklevoss are major venture capital investors who, according to some rumors, own 1% of world bitcoins.

In July 2015 Winklevoss brothers filed an application with the New York State Department of Financial Services on behalf of Gemini Trust Company, LLC.Only one bitcoin company managed to finish this procedure earlier this year. In May ItBit became the first bitcoin exchange to operate legally in the U.S. having received a license from the NYDFS. The company filed the application in February 2015.


Roman Korizky