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  • The founders of cryptocurrency exchange Gemini shared their opinion about Libra.
  • Facebook should be cooperative with regulatory authorities.

The twins and the owners of the US-based cryptocurrency exchange Gemini have expressed their positive attitude towards Facebook’s coin Libra. They believe that the tech giant is in an excellent position to succeed with its project. Moreover, the whole cryptocurrency industry will benefit from Libra’s success.

” [Libra] is very positive for crypto, a company the stature of Facebook talking about cryptocurrencies demystifies the word and makes people feel a lot more comfortable,” Tyler explained in the interview with CNBC.

What’s more, Winklevoss brothers believe that other tech giants will follow Facebook’s suit and launch their own coins within the coming years.

“Our prediction is every FANG company will have some sort of cryptocurrency project within the next two years,” he added.

Meanwhile, Tyler Winklevoss believes that Facebook should cooperate with regulators as this is the only way to get things right and avoid complications.  

“Work with regulators,” he said. “Talk with them. You know, we definitely went through the front door, and we tried to educate the regulators and shape the regulation in a thoughtful manner because if you get the regulation wrong it can stifle innovation, but the right regulation allows for innovation to flourish, and we think we have achieved that right balance with New York.”

Though it is still unclear whether Gemini will list Facebook’s coin, the brothers are still evaluating the project.