The SEC has terminated its investigation into Gemini Trust and has not taken any enforcement action

ChainCatcher news, SEC filings show that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Gemini Trust Company, LLC and decided not to take enforcement action. Gemini co-founder Cameron Winklevoss confirmed on social media that the investigation lasted 699 days and that a Wells notice was received 277 days ago.

Winklevoss criticized the SEC's regulatory actions for causing significant harm to the crypto industry, accusing the agency of enforcing rules without clear guidelines, leading to high legal costs and economic losses for businesses. He called for regulatory reform from the government, including requiring the SEC to compensate affected companies three times their legal fees, dismissing relevant enforcement personnel, and banning those who abuse regulatory power from holding government positions again.

Previously, it was reported that the agency (SEC) had withdrawn its lawsuit against Coinbase and terminated investigations into OpenSea, Robinhood, and Uniswap.