Gemini and SEC Seek Stay in Legal Battle Over Crypto Lending Program
TLDR
- SEC and Gemini have requested a 60-day stay of their lawsuit to explore a resolution
- The lawsuit relates to the Gemini Earn program which the SEC alleged offered unregistered securities
- Genesis already settled related charges for $21 million in March 2024
- The request comes amid the SEC easing oversight of the crypto industry under the Trump administration
- Several other SEC crypto investigations have recently been closed or settled
The Securities and Exchange Commission (SEC) and cryptocurrency exchange Gemini have jointly asked a New York federal court to pause their ongoing lawsuit for 60 days. Both parties want time to explore a possible resolution to the case centered on Gemini’s crypto lending program.
