SEC and Gemini Seek 60-Day Pause in Ongoing Lawsuit
A potential resolution in the lawsuit between the U.S. Securities and Exchange Commission (SEC) and Gemini regarding the Earn product may be forthcoming.
- Gemini and the SEC submitted a joint request for a 60-day pause in proceedings to explore a resolution.
- The SEC sued Gemini in January 2023, claiming the Earn product was an unregistered securities offering.
- Genesis Global Capital, also involved, settled with the SEC for $21 million in March 2024.
- Under the current SEC leadership, over a dozen crypto-related enforcement actions have been paused or dropped.