Cryptocurrency exchange and custodian Gemini has announced that Noah Perlman, former global head of financial crimes and chairman of the political action committee at Morgan Stanley, will be its new chief compliance officer. Tyler Winklevoss, one of Gemini’s founders, announced this development on September 4, 2019. The announcement states that Perlman’s appointment goes hand-in-hand with Gemini’s policy to “ask permission, not forgiveness.” “We chose this path because Compliance is one of Gemini’s four pillars along with Product, Licensing, and Security,” according to the announcement. “We are excited for Noah to continue to build on Gemini’s tradition of compliance.” The Winklevoss’ operation at Gemini has long emphasized compliance. After its proposal for a bitcoin ETF was shot down by the U.S. Securities and Exchange … [Read More...]
LocalBitcoins Stops Cash Trades, Personal Offers on Platform
Multiple users have reported that crypto trading platform LocalBitcoins has stopped allowing customers to make in-person trades of crypto assets for cash in an anonymous fashion. Reddit user u/GrayLifes first posted about this development on June 1, 2019, claiming that cash ads were removed from the platform without warning. A wide range of other users concurred, stating that all “local ads are hidden or deleted for the entire site,” without any option to search for possible traders nearby. “All my local trade ads are missing,” user u/scottemick claimed. “How can it even be called local bitcoins anymore?” One of the largest peer-to-peer crypto exchanges in the world, LocalBitcoins has encountered a wide array of legal difficulties in the past several months. … [Read More...]