Looks like the SEC and Gemini might be calling a truce. They’ve jointly asked a New York court to put their lawsuit on ice for 60 days, hinting at a “potential resolution” to their standoff.
The SEC originally went after Gemini in January 2023, arguing its Gemini Earn program was selling unregistered securities – you know, the kind of thing regulators frown upon. Genesis Global Capital, also caught in the Earn crossfire, already settled its part of the drama for $21 million back in March.
Interestingly, this pause comes as the SEC seems to be softening its crypto stance. Since Mark Uyeda took the acting chair gig under President Trump, the agency has reportedly pumped the brakes on over a dozen crypto enforcement actions, suggesting a rethink of digital asset regulations.