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Winklevoss twins get approval to run their bitcoin exchange


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After several months of waiting, the Winklevoss twins (they who claim to have invented Facebook) have the all-clear to run their Gemini bitcoin exchange. New York state's Department of Financial Services has granted a license to Gemini that lets it run as a chartered trust when it launches on October 8th. This doesn't make it a full-on bank, but it'll have the authority to accept deposits, make loans and serve as an agent for the government across 26 states and Washington, DC. All told, this takes bitcoin one step closer to legitimacy -- important when the virtual currency world still tends to be defined by scandals.

[Image credit: Noam Galai/Getty Images for TechCrunch]

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