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Gemini co-founder and president Cameron Winklevoss said the decision marks another milestone to end the war on crypto.
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The United States Securities and Exchange Commission has closed its investigation into crypto exchange Gemini.
In a Feb. 26 notice shared by Gemini co-founder and president Cameron Winklevoss, the SEC said it had concluded its investigation and “based on the information we have as of this date,” the regulator will not recommend an enforcement action.
However, the agency did note that the notice isn’t an exoneration and that it must not be construed as an indication that no action will be taken at a later date as a result of the SEC’s investigation.
Winklevoss said closing the investigation for now is of little consolation after the “damage this agency has done to us” and the wider crypto industry.
”The SEC cost us tens of millions of dollars in legal bills alone and hundreds of millions in lost productivity, creativity, and innovation. Of course Gemini is not alone,” Winklevoss said.
“The SEC’s behavior in aggregate toward other crypto companies and projects cost orders of magnitude more and caused unquantifiable loss in economic growth for America,” he added.
The SEC charged crypto lending firm Genesis Global Capital and crypto exchange Gemini with offering unregistered securities through Gemini’s “Earn” program on Jan. 12, 2023.
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This article first appeared at Cointelegraph.com News
