The US Securities and Alternate Fee (SEC) has concluded its investigation into Gemini Belief Firm, LLC, selecting to not take enforcement motion. This follows comparable selections in latest days relating to Robinhood and Uniswap. In simply three days, the SEC has ended three high-profile investigations, sparking hypothesis about which firm might be subsequent to have its case closed.
SEC drops investigation into Gemini
Gemini co-founder Cameron Winklevoss confirmed on social media that the investigation into his firm lasted 699 days, noting that he acquired a Wells discover 277 days in the past.
On Monday, the SEC knowledgeable our litigation counsel @JackBaughman27 that it has closed its investigation into @Gemini and won’t be pursuing an enforcement motion in opposition to us. This comes 699 days after the beginning of their investigation and 277 days after they despatched us a Wells… pic.twitter.com/dTjg9CJXVl
— Cameron Winklevoss (@cameron) February 26, 2025
Winklevoss expressed frustration with the SEC’s regulatory actions, claiming they brought on important losses for the crypto business. He accused the company of implementing rules with out clear pointers, forcing corporations to incur hefty authorized charges and endure financial harm. Winklevoss additionally known as for regulatory reforms, together with requiring the SEC to compensate affected corporations 3 times their authorized bills, firing related legislation enforcement officers, and barring those that abuse their regulatory energy from holding authorities positions.
Winklevoss wrote, “I’m glad to be turning the web page right here as an business, however this isn’t the top, quite the start in the direction of guaranteeing this by no means occurs once more to the crypto business or another thrilling, new frontier business sooner or later.”
He additionally reiterated his earlier stance of banning former SEC Chair Gary Gensler from being employed by any company once more, in response to his actions in opposition to corporations that have been shut down on account of his involvement within the weaponization of the legislation.
This investigation into Gemini will not be an remoted case. The SEC had beforehand dropped its lawsuit in opposition to Coinbase and ended its probe into OpenSea. Extra not too long ago, Tron founder Justin Solar and the SEC filed a joint movement requesting a federal decide to droop the lawsuit in opposition to Solar and his firm, Tron.
Because the SEC shifts underneath new management, many are questioning how the regulatory panorama for crypto will evolve. The SEC’s new strategy appears to select up the place the regulatory crew underneath former Chairman Gary Gensler left off, working to determine a extra conducive atmosphere for enterprise. This variation additionally indicators the start of a contemporary slate, with renewed efforts to find out correct crypto rules.
As well as, the SEC’s crypto activity drive has been assembly with business leaders and consultants, together with executives from Chia Community and Higher Markets, to create clearer and more practical regulatory insurance policies.
Additionally Learn: Gemini Co-founder: No MIT Graduates Will Be Employed As a consequence of Gensler’s Return
