The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Gemini crypto exchange, owned by the Winklevoss twins.
Investigation Conclusion
The SEC notified Gemini of the investigation's conclusion without recommending further action. The 699-day investigation focused on the 'Earn' program and included a Wells Notice issued 277 days ago.
Impact on Gemini and Industry
Cameron Winklevoss highlighted substantial legal costs and the negative impact on the industry caused by the SEC's actions. He emphasized the need for accountability in the agency's behavior.
Regulatory Changes
The closure of investigations into crypto companies like Coinbase and Uniswap suggests the SEC may be softening its stance, affecting ongoing cases such as Ripple Labs.
The conclusion of the Gemini investigation indicates some easing of the SEC's approach to the crypto industry, but the future remains uncertain.
