The US SEC has charged Genesis and Gemini for the unregistered offer and sale of securities to retail investors over the Gemini Earn program.
The United States Securities and Exchange Commission on Jan. 12 charged cryptocurrency lending firm Genesis and crypto exchange Gemini with offering unregistered securities through Gemini's"Earn" program.
“We allege that Genesis and Gemini offered unregistered securities to the public, bypassing disclosure requirements designed to protect investors,” said SEC Chair Gary Gensler in aGensler added the charges"build on previous actions to make clear to the marketplace and the investing public that crypto lending platforms and other intermediaries need to comply with our time-tested securities laws.
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