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The Daily Hodl 2025-02-28 17:55:35

SEC Closes Investigation Into Crypto Exchange Gemini Without Recommending Enforcement Action: Cameron Winklevoss

SEC Closes Investigation Into Crypto Exchange Gemini Without Recommending Enforcement Action: Cameron Winklevoss

Gemini co-founder Cameron Winklevoss says that federal securities regulators have ended their probe into the US-based crypto exchange. According to Winklevoss, the U.S. Securities and Exchange Commission (SEC) has informed Gemini lawyer Jack Baughman that it has concluded its investigation and will not pursue an enforcement action against the platform. The SEC has already dropped its case against the crypto exchange Coinbase and is shutting down investigations into the non-fungible token (NFT) marketplace OpenSea, the retail trading app Robinhood and the decentralized cryptocurrency exchange (DEX) UniSwap. Winklevoss says these developments mark a milestone signifying the end of the SEC’s “war on crypto,” but the Gemini co-founder argues they still do little to make up for the damage caused by the agency. “The SEC cost us tens of millions of dollars in legal bills alone and hundreds of millions in lost productivity, creativity, and innovation. Of course, Gemini is not alone. The SEC’s behavior in aggregate towards other crypto companies and projects cost orders of magnitude more and caused unquantifiable loss in economic growth for America.” To deter abuses, Winklevoss says regulatory agencies should reimburse three times the legal expense for initiating investigations or enforcement actions without first establishing the rules. He also proposes lifetime bans for regulatory officials who “weaponize the law.” “We will not rebuild trust and integrity in federal agencies unless there are serious consequences for bad faith actors.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post SEC Closes Investigation Into Crypto Exchange Gemini Without Recommending Enforcement Action: Cameron Winklevoss appeared first on The Daily Hodl .

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