United States of America: Lawsuit involving alleged violations of 1933 Securities Act in cryptoassets programme (SEC vs Genesis and Gemini)

Progress

Current status

under investigation

19 Mar 2024 under investigation

12 Jan 2023 under deliberation

Scope

Implementers

United States of America

Policy Area

Authorisation, registration and licensing

Policy Instrument

Business registration requirement

Regulated Economic Activity

digital payment provider (incl. cryptocurrencies)

Government Branch

executive

Government Body

other regulatory body

Implementation Level

national

Timeline of events

19 Mar 2024

under investigation

Settled charges with Genesis in involving alleged violations of 1933 Securities Act in cryptoassets programme (SEC vs Genesis and Gemini)

On 19 March 2024, the Securities and Exchange Commission announced the closure of its lawsuit against Genesis Global Capital, LLC for the unregistered offer and sale of securities to retail investors through the Gemini Earn crypto asset lending prog…

Source

Event type public lawsuit

Action type interim ruling

Government branch executive

Government body other regulatory body

12 Jan 2023

under deliberation

Announced lawsuit involving alleged violations of 1933 Securities Act in cryptoassets programme (SEC vs Genesis and Gemini)

On 12 January 2023, the US Securities and Exchange Commission (SEC) filed a complaint against Genesis Global Capital and Gemini Trust Company under the Southern District Court of New York against Genesis and Gemini for an alleged unregistered offer …