The SEC has dropped its three year long enforcement action against Gemini Trust Company with prejudice, meaning the SEC cannot refile the case on the similar claims.
The dismissal follows the 100% in-kind return of crypto assets worth more than $940 million plus interest to 3,40,000 Gemini Earn investors.
The case, filed in January 2023, alleged that the Gemini Earn lending program constituted an unregistered securities offering.
The dismissal adds to a growing list of SEC crypto enforcement retreats under the so called Crypto President Trump administration, including Coinbase, Kraken, and Ripple.
XRPUSDT
Perp
1.8775
-1.23%