Gemini Trust appears to be closing a long chapter in its standoff with U.S. regulators.
Court filings in New York reveal that the crypto exchange, founded by Tyler and Cameron Winklevoss, has reached a preliminary agreement with the Securities and Exchange Commission that could settle the dispute over its Gemini Earn product.
The legal battle centered on the SEC’s claim that Gemini failed to properly register its crypto lending service before pitching it to retail investors. The Earn program, which allowed users to generate yield by lending digital assets, became a flashpoint in the regulator’s crackdown on crypto lending platforms.
According to a joint letter submitted to federal court, both sides confirmed that the tentative deal would bring a “complete resolution” to the case. Finalization, however, still hinges on the SEC’s internal approval process before the settlement can officially take effect.
If confirmed, the deal would close one of the most high-profile clashes between a major U.S. crypto exchange and the securities watchdog, potentially reshaping how similar products are offered to the public in the future.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/sec-and-gemini-reach-breakthrough-in-earn-program-case/