SEC Closes Gemini Probe
The US Securities and Exchange Commission (SEC) has officially ended its investigation into the crypto exchange Gemini, as announced by co-founder Cameron Winklevoss on February 26.
The SEC has decided not to pursue any enforcement actions against Gemini at this time, placing it among several companies that have recently avoided further regulatory scrutiny.
This decision follows the SEC’s January 2023 charges against Gemini and Genesis Global Capital for allegedly selling securities through the “Earn” program.
While Winklevoss expressed approval of the investigation’s conclusion, he lamented the financial toll on Gemini and the broader crypto industry due to the SEC’s actions.
He highlighted the SEC’s vigorous pursuit of firms, leading to millions being spent on legal fees and a negative impact on innovation within the industry.
