The US Securities and Exchange Committee (SEC) and Gemini have requested a temporary stoppage in the International Migration Agency’s lawsuit for the Crypto exchange of Bonk. This step follows the organizer’s efforts to resolve most of the main cases of encryption outside the court.
SEC and Gemini ask for a temporary stop
On April 1, SEC and Crypto Exchange Gemini sender A letter to the New York Federal Court judge, Edgardo Ramos, requests a temporary suspension in the lawsuit of the organizer “to allow the parties to explore a possible decision.”
In the joint proposal to survive, the committee’s lawyers and Al -Jimini have asked for a period of 60 days from all the final dates in the case to discuss the potential decision, adding that it is in the interest of the court because it will “preserve the judicial resources.”
SEC and Gemini request a 60-day stay. Source: Court Listener
SEC filed a lawsuit against Gemini in January 2023, on the pretext that the exchange and Crypto Linding Genesis Global Capital illegally offered unregistered securities through the Crypto Exchange program.
In February 2024, Gemini agreed to pay at least $ 1.1 billion to Bare’s customers as part of a settlement with the New York State Department of Financial Services (NYDFS).
“In this case, the parties offer that it is in their interest to remain this while they are considering a possible solution and agree that no party or party will be biased through by residency,” says Tuesday. The two parties also suggested submitting a joint case report within 60 days after entering the residence.
The end of the SEC campaign?
Nearly two months ago, SEC and Binance also sent a 60 -day joint suggestion in their encryption cases, on the pretext that the residence caused by the creation of the SEC encryption squad, led by SEC Hester People Commissioner.
The two parties considered that the work squad could “affect and facilitate the possible accuracy of this issue.” Journalist Elianor Territ has noticed that after requesting the suspension of the Binance case, it is possible that you will follow more common suggestions to stay under the new encoding administration.
Since then, the committee has dropped many encryptions, including Coinbase, Kaken and Conssys. In addition, many open investigations were closed without any enforcement against Robinhood, Uniswap Labs, Crypto.com, Gemini and others.
As Bitcoinist, the co -founder of Gemini, Cameron Winkefus revealed on February 26 that the Supreme Education Council has officially closed its investigation in the company without any enforcement procedure “699 days after the start of the investigation and 277 days after they sent us a notice of wells.”
Winklevoss criticized the committee’s tactics on the previous administration, stressing that “while this represents another milestone until the end of the war on Crypto, (…), it does not do much to compensate for the damage to us, our industry, and America.”
He concluded that this is just a start to “to ensure that this does not happen again in the encryption industry or any new and exciting border industry in the future.”
Total crypto market capitalization is at $2.74 trillion in the one-week chart. Source: TOTAL on TradingView
Distinctive photo of Unsplash.com, Chart from Tradingview.com
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