Almost three years after the SEC filed a complaint involving allegations with the Gemini Earn product, the crypto company and regulator said they had reached a potential deal.
The US Securities and Exchange Commission (SEC) and Gemini Trust Company filed a status update in court, letting a federal court know they had reached a “resolution in principle” to resolve a securities case stemming from a 2023 complaint.
In a Monday filing in the US District Court for the Southern District of New York (SDNY), the SEC and Gemini Trust said that, “subject to review and approval” by the commission, the two parties requested that all litigation in the civil case be indefinitely stayed.
The filing stated that both parties would file another status report if the case weren’t resolved by Dec. 15.
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