Journalist
Posted:
- The SEC closed the Gemini trial, marking the fifth regulatory decline this month.
- The agency also interrupted the trial of Tron and Justin Sun for sixty days.
The SEC abandoned its investigation into Gemini Exchange after 699 days, marking the fifth Crypto company to closed or withdrawn its trial in February.
According to Cameron Winklevoss, co-founder of Gemini, the agency informed them of the closure on February 24.
Winklevoss praised the movement as the end of the war against crypto, citing relief for other companies like Coinbase and Uniswap (uni).
Call for dry reforms
However, he denounced the heavy costs of litigation engaged and the time lost for Gemini and other companies. Winklevoss recommended the reimbursement of legal costs and sanctions against certain members of dry as deterrence.
“It is completely unacceptable for an agency such as the dry of intimidating, harassing and attacking a legal industry, then deciding one day to simply say that we are good and that we move away.”
Winklevoss added that figures like the former SEC president, Gary Gensler, who armed the police, should be prohibited from other agencies.
According to him, these are the plausible means of preventing another “operation of operation on the operation” or the banking restriction for cryptographic companies to recur.
“The ChokePoint operation did not stop at 1.0. He continued at 2.0 because not enough was done to hold the bureaucrats responsible for their actions for 1.0. And there will be a 3.0 unless there is a real and a public calculation for 2.0. »»
At the beginning of 2023, the Gemini were charge By dry for having operated from an unregistered loan service, the Gemini Gagnie program. The program, a partnership with Genesis Capital, allowed users to lend their crypto and win a return.
Note, however, that there has been a growing list of declines or regulatory breaks as part of the new dry.
On February 10, the agency interrupted the trial in binance for sixty days. The agency also interrupted the Tron Foundation and its co-founder, Justin Sun., as note By the lawyer Crypto Jeremy Hogan,
“The SEC has just agreed to suspend the trial of the Tron Foundation and asks the 60 -day judge to resolve it … Another Crypto litigation of the dry disappears.”
In 2023, the authorities charged Sun, who was also an crypto advisor to the president of Defi Project affiliated with financial freedom, with market manipulation and illegal Tron (TRX) and “security”.
Regulatory rollbacks are part of the new Dry push for more clarity in the sector, because its cryptographic working group seeks to develop a complete framework for industry.
