SEC drops Gemini investigation, decides not to pursue enforcement action

Odaily News Cameron Winklevoss, co-founder of Gemini, announced that the SEC has closed its investigation into it and decided not to take enforcement action against it. The decision came 699 days after the SEC launched its investigation. While this marks an important victory for the crypto industry, Gemini still said that the SEC's actions caused tens of millions of dollars in legal fees and hundreds of millions of dollars in lost productivity and innovation.
Gemini called for regulators to pay high compensation if they conduct investigations or enforce the law without first establishing rules. In addition, Gemini suggested that the relevant persons in charge should be publicly held accountable and even banned from holding government positions again to ensure that similar incidents do not happen again.