Journalist
Posted:
- SEC closed the Gemini right case and this month marked the fifth legal turn.
- The office also pauted the lawsuit of Tron and Justin Sun for sixty days.
The SEC dropped his research into Gemini Exchange after 699 days, so that the fifth crypto company was closed or withdrawn its lawsuit in February.
According to Cameron Winklevoss, co-founder of Gemini, the agency informed them about the closure on 24 February.
Winklevoss greeted the movement to an end to the war against Crypto, with reference to help for other companies such as Coinbase and Uniiswap[UNI].
Call for sec -reforms
He sedated The heavy process costs that have been incurred, and the time lost for Gemini and other companies. Winklevoss ordered the reimbursement of legal costs and punishment at a few seconds as a deterrence.
“It is completely unacceptable for an agency such as the SEC to bully a legal industry, to bother and attack and then decide one day to just say that we are good and walk away.”
Winklevoss added that figures such as former SEC chairman Gary Genler, who monitors the law enforcement, should be banned from other agencies.
According to him, these were the plausible ways to prevent another ‘surgery chokepoint’ or bank reduction for crypto companies recurring.
“Operation ChokePoint did not stop at 1.0. It continued to 2.0 because it was not enough to hold bureaucrats responsible for their actions for 1.0. And there will be a 3.0 unless there is a real, public settlement for 2.0. ”
At the beginning of 2023 was Gemini charged The Gemini program earns the SEC before exploiting a non -registered credit service. The program, a partnership with Genesis Capital, allowed users to borrow their crypto and earn a yield.
Note, however, that there has been a growing list of legal turnings or breaks under the new SEC.
On February 10, the Binance rights office paused for sixty days. The agency also has the Tron Foundation and its co-founder, Justin Sun., pauses as noted by Crypto lawyer Jeremy Hogan,
“The SEC has just agreed to pause the Tron Foundation case and ask the right 60 days to resolve it … Another sec crypto disputes go away.”
In 2023, the Sun authorities, who also serves as a crypto advisor of President Trump-Connect Defi Project World Liberty Financials, with market manipulation and the illegal sale of Tron [TRX] as a ‘security’
The legal reverse reverse are part of the new SEC drive to more clarity in the sector, because the crypto task force wants to develop an extensive framework for industry.