<\/p>\n
Gemini co-founder Cameron Winklevoss says that federal securities regulators have ended their probe into the US-based crypto exchange.<\/p>\n
According to Winklevoss, the U.S. Securities and Exchange Commission (SEC) has informed Gemini lawyer Jack Baughman\u00a0that it has\u00a0concluded<\/a> its investigation and will not pursue<\/span>\u00a0an enforcement action against the platform.<\/p>\n The SEC has already dropped its case against the crypto exchange Coinbase and is shutting down investigations into the non-fungible token (NFT) marketplace OpenSea, the retail trading app Robinhood and the decentralized cryptocurrency exchange (DEX) UniSwap.<\/p>\n Winklevoss says these developments mark a milestone signifying the end of the SEC\u2019s \u201cwar on crypto,\u201d but the Gemini co-founder argues they still do little to make up for the damage caused by the agency.<\/p>\n \u201cThe SEC cost us tens of millions of dollars in legal bills alone and hundreds of millions in lost productivity, creativity, and innovation. Of course, Gemini is not alone. The SEC\u2019s behavior in aggregate towards other crypto companies and projects cost orders of magnitude more and caused unquantifiable loss in economic growth for America.\u201d<\/i><\/p>\n To deter abuses, Winklevoss says regulatory agencies should reimburse three times the legal expense for initiating investigations or enforcement actions without first establishing the rules.<\/p>\n He also proposes lifetime bans for regulatory officials who \u201cweaponize the law.\u201d<\/p>\n \u201cWe will not rebuild trust and integrity in federal agencies unless there are serious consequences for bad faith actors.\u201d<\/i><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n
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\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n