Gemini releases policy on an upcoming Bitcoin chain split

Gemini, the fully regulated New York-based digital asset exchange for both individuals and institutions has provided information on how the company will respond if the Bitcoin network splits into two separate blockchains (often called a “fork”) sometime soon. The team stated, “the highest priority at Gemini — more important even than keeping our exchange open — is ensuring that all of our customers’ asset balances are held securely.”
Gemini stated that in the event of a chain split, they will carefully consider its response and how to move forward. If there is a chain split in the near future, it is unlikely to be a “clean” chain split in which almost all hash power, exchange volume, and economic activity happen on only one blockchain. Gemini says they prefer and encourage a “clean” chain split, no matter which side of the scaling debate wins, but they are preparing for a variety of outcomes.
In the event that Gemini detects a chain split or anticipates an imminent chain split, they will temporarily suspend BTC deposits and withdrawals. Gemini will endeavor to resume deposits and withdrawals as soon as it’s safely able to do so, but that process may take up to a week to complete.
What Gemini is currently planning:

The Gemini team finished its update saying:

“We understand that the policies listed above leave quite a lot to Gemini’s discretion. We would rather have clearly defined policies in place right now; however, it’s unclear what will happen on the blockchain in the coming days, weeks, and months, and we would much rather play it safe than making hasty, ill-informed decisions and risk mismanaging your funds. As soon as we gain further insight on the situation, we will make additional blog posts to better detail how your funds on Gemini will be secured.”