A new political season often brings changes, and this is what took shape in the United States for cryptocurrency companies. Under the chairmanship of Donald Trump, the regulatory environment has become less restrictive than in recent years, offering the sector more room for maneuver. Companies that once felt under pressure now seem to be on a more stable ground. This change is reflected in the latest developments in the case between Gemini Trust Company and the American Securities Commission (SEC).
In short
- The SEC and Gemini announce an agreement in principle to end the longtime dispute on the EARN program.
- The case stems from claims of unregistered securities linked to a crypto loan product.
- The change in posture of the dry reflects a lighter regulatory climate for Crypto companies.
Gemini is approaching the end of a long -standing case
SEC and Gemini told a federal court that they had reached what they call a resolution in principle. This step aims to close a dispute started in January 2023, when the regulator accused Gemini of offering unregistered titles.
The case focused on Gemini Earn, a program launched in 2021 which allowed customers to lend digital assets to Genesis Global Capital in exchange for interests from up to 7.4 % per year.
In their deposit, the two parties confirmed that the regulations would end the dispute as soon as it will receive the formal approval of the Commission. To allow the time necessary for the finalization and examination of the documents, they asked the court to suspend all the deadlines.
The deposit also indicated that if the agreement was not subject before December 15, 2025, the parties had to provide an update on progress and offer new dates.
The trial concerned both Gemini and Genesis Global Capital. The SEC alleged that, from February 2021 to November 2022, the two companies had offered and sold securities to private investors without appropriate registration. Genesis settled its share of the case in 2024 by agreeing to pay $ 21 million, while Gemini's position only started to evolve towards a regulation thanks to this resolution of principle.
A different regulatory approach
The atmosphere has changed since Trump took office in January. The president was vocal in his support for digital assets, reporting that industry had an ally in the White House. His decision to appoint Paul Atkins, a long -standing supporter of the sector, at the head of the SEC confirmed this orientation.
Atkins launched Project Crypto, an initiative to update how the agency regulates the digital asset sector. At the same time, the SEC withdrawn from business against other major actors such as Coinbase, Binance and Ripple. The withdrawal of these prosecutions was perceived as a sign of a reduced pressure on the sector.
The combination of the change of direction and the adjustment of policies has drawn attention to the speed with which the regulatory landscape can rotate. With Atkins at the head of the Commission and Trump expressing his enthusiasm for the field, companies now see opportunities that seemed out of reach a short time ago.
The entrance from Gemini to Nasdaq in full dispute with the dry
For Gemini, the calendar of this regulation process coincides with another milestone. The company has recently entered the public market, completing its initial actions offer and its quotation at NASDAQ. The reports indicated that the offer had brought in around $ 425 million thanks to the issue of 15.2 million shares.
At the same time, its founders, Cameron and Tyler Winklevoss, remained close to President Trump. They provided financial support during his 2024 campaign and continued to maintain links with the White House.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
