Bitcoin Cash now available on Gemini with NYSDFS approval

It is currently only providing support for the Bitcoin ABC network

Cryptocurrency exchange Gemini, which was founded in 2015 by the Winklevoss brothers, has worked with the New York State Department of Financial Services (NYSDFS) to obtain approval to offer Bitcoin Cash trading and custody services.

This is the fifth digital asset available on the venture’s platform, joining Bitcoin, Ether, Litecoin, and Zcash.

Bitcoin Cash, a fork of the Bitcoin network, was recently forked into two distinct networks and blockchains: Bitcoin ABC and Bitcoin SV. Gemini will at this point only be providing support for the Bitcoin ABC network, although it hasn’t taken Bitcoin SV off the table.

“We have added replay protection to all BCH withdrawals from the Gemini platform to ensure transactions are only valid on the Bitcoin ABC blockchain,” says Eric Winer, VP of Engineering.

“Any cryptocurrency sent to Gemini over a blockchain that we do not support, such as Bitcoin SV, will be invalid and irrecoverable. We are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.”

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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