SEC Charges Crypto Firms Gemini & Genesis for Alleged Unregistered Securities
• The U.S. Securities and Exchange Commission (SEC) has charged crypto firms Genesis and Gemini for allegedly selling unregistered securities concerning a high-yield product offered to depositors. • The product in question, Gemini’s Earn Program, satisfied the SEC’s definition of security and was backed by Genesis’ lending activities. • SEC Chair Gary Gensler said in a statement that the charges are meant to make it […]