SEC, Winklevoss’ Gemini to Resolve Crypto Lending Lawsuit
The U.S. Securities and Exchange Commission (SEC) and Gemini Trust Co., founded by the Winklevoss twins, are nearing a resolution in a lawsuit regarding Gemini's unregistered crypto lending program. The SEC had alleged that Gemini illegally raised billions of dollars through this lending program without proper registration. In a court filing, attorneys for both parties indicated that they are close to reaching a settlement in the matter. The details of the potential resolution have not been disclosed, but it suggests that the SEC and Gemini are working towards a mutually agreeable outcome. The lawsuit highlights the ongoing regulatory scrutiny faced by the cryptocurrency industry, particularly regarding the offering of financial products and services. The resolution of this case could set a precedent for how crypto companies navigate the regulatory landscape in the future.
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