The US Securities and Exchange Commission (SEC) has concluded its investigation into cryptocurrency exchange Gemini, Bloomberg has reported.
On February 26, Cameron Winklevoss, co-founder and president of Gemini, shared a notice from the SEC stating that the investigation had concluded and that, "based on the information we have as of this date," no enforcement action would be recommended.
Previously, on January 12, 2023, the SEC had charged Genesis Global Capital, a crypto lending firm, and Gemini with offering unregistered securities through Gemini's Earn program.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
However, the SEC clarified this notice is not an exoneration and should not be construed as a guarantee that no future action will be taken.