Without explanation, the Gemini exchange closed the accounts of two over-the-counter platforms when trying to redeem a token GUSD

The Gemini bitcoin-owned stock owned by the Winklevossam found itself at the center of a new scandal after operators of two over-the-counter trading platforms (OTC) said their accounts were closed without any explanation when trying to pay off Gemini Dollar (GUSD). This writes CoinDesk .

As the newspaper notes, the platforms that complained about the closure of accounts, in order to avoid damage to their reputation, wished to preserve anonymity.

So, in one of the cases, Gemini closed an account with an OTC-trader from Latin America after he said that he wanted to convert several million dollars into cash in GUSD. Additionally (also on condition of anonymity) a confirmation was received from a large stock exchange that the mentioned OTC-trader is conducting professional activities and enjoys a good reputation.

Nevertheless, Gemini reported that after studying the details of the account to be closed, adding at the same time that the specific reasons for the exchange can not be called.

In another case, the US-based OTC platform also lost access to its account, although before that it managed to withdraw several million dollars from GUSD. Representatives of the company suggested that all this is part of Gemini’s strategy to “maximize its status on CoinMarketCap”.

Representatives of another OTC platform, which has a valid Gemini account, confirmed that this problem is widely known and therefore they are not in a hurry to convert GUSD into dollars.

“Very many players cannot leave GUSD, even very large areas. Having an account does not guarantee the possibility of redemption of tokens, ” they explained.

In response to complaints, Gemini issued a statement saying that there was no mistake in her actions.

“Gemini is a trust company from New York. Some potential clients may not be able or unwilling to comply with our strict compliance program. This is a feature of [our exchange], and not an error that distinguishes Gemini from others. We understand that someone may not like it, but it is necessary to ensure the trust in the future of money, ” Winklevoss said.

Gemini also reported that by today GUSD had repaid $ 133 million, which is more than half of the token emission, and some customers managed to withdraw up to $ 40 million at a time.

Nevertheless, CoinDesk notes, it is known that last year Gemini offered OTC-platforms and market makers to purchase GUSD tokens with a 1% discount. This was done in order to increase the share of steyblkoin in the market. In particular, under the terms of the agreement, Gemini partners had to agree to certain restrictions that would not allow them to withdraw into dollars immediately after the tokens were credited.

The aforementioned trader from Latin America refused this offer, as he planned to use GUSD to transfer assets to Fiat, and acquired tokens through his own channels. At the same time, representatives of the exchange warned him that withdrawing a large amount of funds could cause damage to the stablebcoin.

Earlier this year, the Gemini Exchange came under the fire of community criticism when it declared that the revolution needed rules . Later, the Winklowoss brothers declared that investors needed guarantees for comfortable interaction with cryptocurrencies, and therefore the activities of companies should be regulated by the state .

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