SEC Drops Gemini Crypto Investigation: Wins, Losses & Industry Impact
- SEC closes Gemini investigation with no enforcement action, though future action remains possible.
- Winklevoss laments millions spent on legal fees and the lost productivity from the process.
- Co-founder calls for SEC accountability, urging reimbursement for unjust investigations.
The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into the cryptocurrency exchange Gemini.
The SEC informed Gemini’s litigation counsel on Monday that no enforcement action will be pursued against the company. Cameron Winklevoss shared this update on social media, noting that the decision comes nearly two years after the SEC began its investigation.
SEC Investigation into Gemini’s ‘Earn’ Program Ends
Gemini was accused of offering unregistered securities through its “Earn” program alongside crypto lender Genesis Global Capital in January 2023.
However, the agency clarified that the notice should not be interpreted as an exoneration. It also stated that this decision does not prevent future action based on the findings of the SEC’s investigation.
Jack Baughman, Gemini’s legal counsel, also confirmed the news on X. He wrote, …
The post SEC Drops Gemini Crypto Investigation: Wins, Losses & Industry Impact appeared first on Coin Edition.
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SEC Drops Gemini Crypto Investigation: Wins, Losses & Industry Impact
- SEC closes Gemini investigation with no enforcement action, though future action remains possible.
- Winklevoss laments millions spent on legal fees and the lost productivity from the process.
- Co-founder calls for SEC accountability, urging reimbursement for unjust investigations.
The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into the cryptocurrency exchange Gemini.
The SEC informed Gemini’s litigation counsel on Monday that no enforcement action will be pursued against the company. Cameron Winklevoss shared this update on social media, noting that the decision comes nearly two years after the SEC began its investigation.
SEC Investigation into Gemini’s ‘Earn’ Program Ends
Gemini was accused of offering unregistered securities through its “Earn” program alongside crypto lender Genesis Global Capital in January 2023.
However, the agency clarified that the notice should not be interpreted as an exoneration. It also stated that this decision does not prevent future action based on the findings of the SEC’s investigation.
Jack Baughman, Gemini’s legal counsel, also confirmed the news on X. He wrote, …
The post SEC Drops Gemini Crypto Investigation: Wins, Losses & Industry Impact appeared first on Coin Edition.
Read More