Hassan Maishera
TL;DR
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The U.S. SEC has ended its investigations into the Winklevoss-owned cryptocurrency exchange Gemini.
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This comes as the SEC recently ended its legal pursuits against Coinbase, OpenSea, Robinhood and UniSwap.
SEC Wraps Up Investigations into Gemini
According to Gemini co-founder Cameron Winklevoss, the United States Securities and Exchange Commission has ended its investigation into the crypto exchange and will not pursue enforcement action.
In an X post, Cameron added that this latest development comes 699 days after the start of their investigation and 277 days after they sent us a Wells Notice.
On Monday, the SEC informed our litigation counsel @JackBaughman27 that it has closed its investigation into @Gemini and will not be pursuing an enforcement action against us. This comes 699 days after the start of their investigation and 277 days after they sent us a Wells… pic.twitter.com/dTjg9CJXVl
— Cameron Winklevoss (@cameron) February 26, 2025
The SEC ending its investigations into Gemini is the latest one as the regulator canceled lawsuits against and paused investigations into crypto firms since President Trump assumed office. In recent days, the SEC has closed its cases against Coinbase, OpenSea, Robinhood, and UniSwap.
Cameron criticized the previous SEC administration and their approach to the cryptocurrency industry, calling for anybody involved in these actions to be fired immediately "and in a public way."
The SEC has been under new leadership since former SEC Chair Gary Gensler stepped down on Jan. 20. Acting Chairperson Mark T. Uyeda is leading the regulatory agency in a new direction by rolling back enforcement actions initiated against the crypto industry during the Biden administration.
SEC Commissioner Hester Peirce has also been tasked with leading a crypto task force to engage cryptocurrency companies previously targeted by the SEC. The group is also working with industry representatives to write crypto-specific rules.
