Policy, Securities and Exchange Commission, SEC, Gemini, Genesis, lawsuits The Securities and Exchange Commission sued Gemini in 2023 over its now-defunct Earn product. 

A doable choice is likely to be coming rapidly throughout the long-running lawsuit between the U.S. Securities and Exchange Commission (SEC) and Gemini over the crypto agency’s Earn product.

The two submitted a joint request to the U.S. District Court for the Southern District of New York on Tuesday to consider a 60-day pause throughout the case as they take note of a doable choice.

Gemini was sued by the SEC in January 2023, alongside lender Genesis Global Capital, alleging their Gemini Earn product constituted an unregistered securities offering. In March 2024, Genesis finalized a $21 million settlement with its operate on this system, resolving its side of the case.

Since President Donald Trump returned to office and appointed Mark Uyeda as performing SEC chair, the regulator has halted or dropped over a dozen crypto-related enforcement actions, citing a reassessment of how securities authorized tips apply to digital property.

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