By Aaron Nicodemus2023-01-13T17:21:00
The Securities and Exchange Commission (SEC) accused two cryptocurrency firms, Genesis Global Capital and Gemini Trust Company, with selling a crypto lending product to investors as an unregistered security.
The SEC said Genesis and Gemini raised “billions of dollars’ worth of crypto assets from hundreds of thousands of investors” with an investment vehicle called Gemini Earn. The program constituted the offering and sale of a security but was not registered with the SEC, a violation of federal securities law.
In its complaint filed in U.S. District Court for the Southern District of New York, the SEC seeks permanent injunctive relief, disgorgement of ill-gotten gains plus prejudgment interest, and civil penalties.
2024-03-19T17:53:00Z By Aaron Nicodemus
Crypto firm Genesis Global Capital agreed to pay a $21 million civil penalty to the Securities and Exchange Commission to settle charges that the Gemini Earn investment program was an unregistered security offering.
2024-02-29T19:18:00Z By Jeff Dale
The New York State Department of Financial Services fined cryptocurrency exchange Gemini Trust Company $37 million over alleged compliance failures related to lapses in safety and soundness.
2024-01-16T18:24:00Z By Kyle Brasseur
Virtual currency brokerage firm Genesis Global Trading agreed to pay an $8 million penalty levied by the New York State Department of Financial Services for alleged compliance failures that left it vulnerable to illicit activity and cybersecurity threats.
2025-08-05T16:23:00Z By Adrianne Appel
The Securities and Exchange Commission and Department of Justice ended a seven-year review of GE Healthcare Technologies’ China unit for possible violations of the Foreign Corrupt Practices Act.
2025-08-04T18:13:00Z By Adrianne Appel
The U.S. Department of Justice says the chief executive and medical director of Fast Lab Technologies allegedly engaged in a $500 million fraud scheme involving COVID-19 tests.
2025-07-31T18:47:00Z By Adrianne Appel
More than 50 people and 50 ships connected to a top Iranian official were added to the U.S. Treasury’s sanctions list on Wednesday, according to the Office of Foreign Assets Control.
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