The investigation into the cryptocurrency exchange Gemini has officially concluded, as announced by co-founder Cameron Winklevoss. The SEC has indicated that it will not pursue any enforcement action based on the current information available, but this does not imply exoneration.

Winklevoss expressed his frustration regarding the SEC’s impact on Gemini and the wider cryptocurrency industry. He noted significant financial losses due to legal expenses and reduced productivity. The SEC’s approach has led to considerable economic challenges for many crypto companies, underscoring the broader consequences of regulatory scrutiny in the sector.

Earlier this year, the SEC had charged Gemini and Genesis Global Capital for offering unregistered securities through their “Earn” program. This situation highlights ongoing concerns within the cryptocurrency market.

📎 Related coverage from: cointelegraph.com