Mars Finance News, on April 2, according to The Block, the U.S. Securities and Exchange Commission (SEC) and the Gemini crypto trading platform jointly submitted a letter to the Southern District Federal Court of New York, requesting the judge to approve a 60-day litigation suspension period. Both parties will use this window to explore potential solutions for the Gemini Earn crypto lending product lawsuit. The case originated from a lawsuit in January 2023, with the SEC accusing Gemini of illegally selling unregistered securities through the Earn project, raising billions of dollars in crypto assets. A month before this motion was submitted, Gemini co-founder Cameron Winklevoss revealed that the SEC had officially notified the end of its investigation into the trading platform and would not initiate enforcement procedures. The SEC's change in attitude is seen as a continuation of the Trump administration's crypto-friendly policies. Since the 2024 presidential election, the SEC has successively withdrawn lawsuits against crypto companies such as Coinbase, OpenSea, and Immutable, and halted multiple investigations. In early January this year, Gemini had reached a settlement of $5 million with the U.S. Commodity Futures Trading Commission (CFTC) regarding false representation allegations.
SEC and Gemini file joint motion seeking potential resolution of crypto lending lawsuit
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