United States of America: Approved Attorney General settlement with Genesis for allegedly defrauding investors
Description
Approved Attorney General settlement with Genesis for allegedly defrauding investors
On 13 June 2024, the New York Attorney General (AG) announced that it had recovered USD 50 million from the cryptocurrency platform Gemini Trust Company for defrauding over 230'000 investors, including 29'000 New Yorkers, through its misleading Gemi…
Scope
Policy Area
Consumer protection
Policy Instrument
Fair marketing and advertising practice requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
subnational
Government Branch
judiciary
Government Body
court
Complete timeline of this policy change
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2023-10-19
under deliberation
2024-02-09
under deliberation
2024-05-20
in force