The US Securities and Exchange Commission has concluded its investigation into the crypto exchange Gemini and decided not to pursue any enforcement action, as noted in a Wednesday announcement.
Cameron Winklevoss, co-founder of Gemini and brother of Tyler Winklevoss, shared on X:
“This comes 699 days after the start of their investigation and 277 days after they sent us a Wells Notice,” Gemini co-founder Cameron Winklevoss, brother of Tyler, said on X. “While this marks another milestone to the end of the war on crypto … it does little to make up for the damage this agency has done to us, our industry, and America.”
This decision arises during a period marked by the withdrawal of lawsuits and halted investigations into crypto firms, reflecting a shift in regulatory stance following President Trump’s election. Recently, the SEC has withdrawn cases against Coinbase, OpenSea, Robinhood, and UniSwap.
Additionally, on Wednesday, it was announced that the SEC and crypto entrepreneur Justin Sun are exploring potential resolutions concerning an ongoing fraud case.
