{"id":48239,"date":"2025-02-27T10:43:19","date_gmt":"2025-02-27T10:43:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-drops-investigation-against-gemini-no-action-taken\/"},"modified":"2025-02-27T10:43:19","modified_gmt":"2025-02-27T10:43:19","slug":"sec-drops-investigation-against-gemini-no-action-taken","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-drops-investigation-against-gemini-no-action-taken\/","title":{"rendered":"SEC drops investigation against Gemini, no action taken"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687773961881-8e8b36c0-1f56-4218-8fd2-a8947b9602ad-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687773961881-8e8b36c0-1f56-4218-8fd2-a8947b9602ad-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687773961881-8e8b36c0-1f56-4218-8fd2-a8947b9602ad-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687773961881-8e8b36c0-1f56-4218-8fd2-a8947b9602ad-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li aria-level=\"1\">The SEC has dropped investigations against Coinbase, Robinhood Crypto, and Uniswap<\/li>\n<li aria-level=\"1\">Cameron Winklevoss said the result does \u201clittle to make up for the damage\u201d done<\/li>\n<li aria-level=\"1\">He said there should be \u201cthoughtful legislation\u201d to deter agencies from bullying lawful organizations<\/li>\n<\/ul>\n<p>The US Securities and Exchange Commission (SEC) has dropped its investigation of Gemini and will not pursue an enforcement action.<\/p>\n<p>The crypto exchange is the latest platform to have an SEC lawsuit against it end amid a change in direction at the agency. In recent weeks, the SEC has closed investigations against <a href=\"https:\/\/coinjournal.net\/news\/coinbase-scores-major-win-as-sec-set-to-drop-lawsuit\/\">Coinbase<\/a>, <a href=\"https:\/\/coinjournal.net\/news\/sec-drops-investigation-into-robinhood-crypto\/\">Robinhood Crypto<\/a>, and <a href=\"https:\/\/coinjournal.net\/news\/sec-drops-case-against-uniswap-marking-a-huge-win-for-defi\/\">Uniswap<\/a>, among others.<\/p>\n<p>In a post on <a href=\"https:\/\/x.com\/cameron\/status\/1894876433979154893\" target=\"_blank\" rel=\"noopener\">X<\/a>, Cameron Winklevoss, <a href=\"https:\/\/coinjournal.net\/search\/Gemini\">Gemini\u2019s<\/a> co-founder, said the move \u201ccomes 699 days after the start of their investigation and 277 days after they sent us a Wells Notice.\u201d<\/p>\n<p>\u201cWhile this marks another milestone to the end of the war on crypto\u2026it does little to make up for the damage this agency has done to us, our industry, and America,\u201d he added.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">On Monday, the SEC informed our litigation counsel <a href=\"https:\/\/twitter.com\/JackBaughman27?ref_src=twsrc%5Etfw\">@JackBaughman27<\/a> that it has closed its investigation into <a href=\"https:\/\/twitter.com\/Gemini?ref_src=twsrc%5Etfw\">@Gemini<\/a> and will not be pursuing an enforcement action against us. This comes 699 days after the start of their investigation and 277 days after they sent us a Wells\u2026 <a href=\"https:\/\/t.co\/dTjg9CJXVl\">pic.twitter.com\/dTjg9CJXVl<\/a><\/p>\n<p>\u2014 Cameron Winklevoss (@cameron) <a href=\"https:\/\/twitter.com\/cameron\/status\/1894876433979154893?ref_src=twsrc%5Etfw\">February 26, 2025<\/a><\/p>\n<\/blockquote>\n<h2>Charges against Gemini<\/h2>\n<p>In 2023, the <a href=\"https:\/\/coinjournal.net\/news\/us-sec-has-filed-charges-against-gemini-and-genesis\/\">SEC charged Gemini and Genesis Global Capital<\/a>, a crypto lending platform, with selling unregistered securities through the Gemini Earn product.<\/p>\n<p>At the time, the <a href=\"https:\/\/coinjournal.net\/search\/Securities+and+Exchange+Commission\">SEC<\/a> argued that the pair had misrepresented their business model by advertising returns of up to 8% to investors without registering as a lending partnership with the relevant authorities.<\/p>\n<p>While the investigation is at an end for Gemini, the SEC has cost the crypto exchange \u201ctens of millions of dollars in legal bills and hundreds of millions in lost productivity, creativity, and innovation,\u201d Winklevoss said.<\/p>\n<p>\u201cThe SEC\u2019s behavior in aggregate towards other crypto companies and projects cost orders of magnitude more and caused unquantifiable loss in economic growth for America,\u201d he said.<\/p>\n<h2>Unacceptable behavior<\/h2>\n<p>Gemini criticized the previous SEC under former chair Gary Gensler arguing that it was \u201cwholly unacceptable\u201d for the SEC to attack the crypto industry \u201cand then decide one day to simply say we\u2019re good and walk away.\u201d<\/p>\n<p>Winklevoss said \u201cthoughtful legislation\u201d will deter agencies from taking action against lawful organizations when those agencies refuse to write rules before opening an investigation. Some ideas he put forward include reimbursement, dishonorable discharges, and banning those involved from being hired by an agency again.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/sec-drops-investigation-against-gemini-no-action-taken\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The SEC has dropped investigations against Coinbase, Robinhood Crypto, and Uniswap Cameron Winklevoss said the result does \u201clittle to make up for the damage\u201d done He said there should be \u201cthoughtful legislation\u201d to deter agencies from bullying lawful organizations The US [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":48240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48239"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=48239"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/48240"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=48239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=48239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=48239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}