Revolutionize Your Future: Unleashing Unprecedented Crypto Insights After Historic SEC Closure

The US Securities and Exchange Commission (SEC) has finally closed its investigation into cryptocurrency exchange Gemini, marking a significant milestone in the ongoing regulatory battle. The agency informed Gemini of the closure on February 24th.

Gemini co-founder Cameron Winklevoss hailed this development as an end to the crypto war, emphasizing relief for other firms like Coinbase and Uniswap. However, he expressed frustration with the heavy litigation costs incurred by Gemini and other affected firms during the prolonged investigation.

Winklevoss urged reimbursement of legal fees and punishment against some SEC members as a deterrent, stating that it is “wholly unacceptable” for an agency to “bully, harass, and attack a lawful industry” only to later abandon the case. He also called out former SEC chair Gary Gensler, claiming that his actions were akin to “weaponizing law enforcement.”

Winklevoss added that figures like Gensler, who have weaponized law enforcement, should be banned from other agencies in order to prevent further restrictions on crypto firms similar to Operation Chokepoint.

The closure of the Gemini probe comes amid a growing trend of regulatory rollbacks or pauses under the new SEC. Last week, the agency paused its lawsuit against Binance for sixty days, and has also put on hold the case against the Tron Foundation and its co-founder Justin Sun.

Source: https://ambcrypto.com/sec-closes-gemini-probe-after-699-days-winklevoss-is-the-crypto-war-over/