The US Securities and Exchange Commission (SEC) has ended its investigation into Gemini without filing any charges. However, Gemini co-founder Cameron Winklevoss has strongly criticized the agency, accusing it of causing financial and operational harm to the crypto industry.<\/p>\n
US SEC Ends Gemini Investigation Without Charges<\/h2>\n
On Monday, the US SEC informed Gemini\u2019s legal team that it had closed its probe into the cryptocurrency exchange. The investigation lasted 699 days, and the agency had previously issued a Wells Notice to Gemini 277 days ago. Despite the SEC\u2019s decision to drop the case, Winklevoss expressed frustration, arguing that the prolonged scrutiny harmed the company and the broader industry.<\/p>\n
\u201cThis comes 699 days after the start of their investigation and 277 days after they sent us a Wells Notice,\u201d Winklevoss said in a post on X. \u201cThe SEC cost us tens of millions of dollars in legal bills alone and hundreds of millions in lost productivity, creativity, and innovation.\u201d<\/p>\n
The US SEC has not provided a public statement on the decision to end its investigation. The case was part of a broader regulatory crackdown on cryptocurrency firms, which also included actions against other major industry players.<\/p>\n
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