5 months ago
17
The U.S. Securities and Exchange Commission (SEC) has officially closed its probe into the crypto speech Gemini, a determination announced by co-founder Cameron Winklevoss connected February 26.
The SEC concluded that it volition not urge enforcement actions against the steadfast astatine this time, adding Gemini to a database of companies that person precocious escaped regulatory scrutiny.
This comes aft the SEC filed charges against Gemini and Genesis Global Capital successful January 2023 for selling securities done the “Earn” program.
Although Winklevoss applauded the result of the investigation, helium was disappointed with the magnitude of wealth Gemini and the full crypto manufacture mislaid due to the fact that of the SEC’s actions.
He noted that the SEC has been precise progressive successful going aft firms and arsenic a result, firms person spent millions of dollars connected ineligible fees and the innovation of the firms has been impacted negatively.
The SEC has precocious closed investigations into different notable firms, including Coinbase and OpenSea, but Winklevoss cautioned that the harm whitethorn already beryllium done. He advocates for “thoughtful legislation” to forestall specified situations, calling for accountability wrong the SEC for immoderate unfounded investigations.
As the erstwhile Chair of the SEC, Gary Gensler resigned connected January 20, 2025, and Donald Trump started his 2nd word arsenic the president of the United States.
Winklevoss inactive believes successful the aboriginal of the caller economy, particularly calling for regularisation to forestall over-regulation successful the crypto and different emerging markets.
Also Read: SEC Closes Uniswap Probe After Four Years Without Disciplinary Action
English (US) ·