Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»TRADING NEWS»Gemini, Genesis Deny Motion to Dismiss SEC Earnings Complaint
TRADING NEWS

Gemini, Genesis Deny Motion to Dismiss SEC Earnings Complaint

By Crypto FlexsMarch 13, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Gemini, Genesis Deny Motion to Dismiss SEC Earnings Complaint
Share
Facebook Twitter LinkedIn Pinterest Email

A U.S. judge has ruled that lawsuits alleging securities violations by cryptocurrency companies Gemini and Genesis are valid.

District Judge Edgardo Ramos denied a motion to dismiss filed by Gemini cryptocurrency exchange and cryptocurrency lender Genesis in a U.S. SEC complaint filed through the Earn program hosted by the two companies until the end of 2022.

In a March 13 court order, Judge Ramos said the SEC had provided sufficient grounds to allege that Gemini and Genesis violated U.S. securities regulations.

The decision, issued in the U.S. District Court for the Southern District of New York, cited the Howey and Reves tests, to which the Commission referred, as the appropriate basis for qualifying a revenue program under existing securities regulations.

At this stage, under both tests, the court finds merit in the complaint alleging that defendants offered and sold unregistered securities through the Gemini Earn program. As a result, defendant’s motion to dismiss is denied.

Judge Edgardo Ramos

In a January 2023 lawsuit, the SEC litigants alleged that cryptocurrency companies marketed the Earn product as an investment opportunity. Investors maintain their profit expectations through the efforts of others to meet securities requirements according to the institution.

Notably, Genesis had previously attempted to have the SEC’s complaint dismissed, arguing that Gemini’s Earn program operated under a loan origination model rather than a securities contract. The Digital Current Group subsidiary also reached a $21 million settlement with fees in a civil lawsuit.

Both companies have been the subject of several enforcement actions initiated by U.S. regulators, including the New York Attorney General’s Office (NYAG). NYAG Letitia James is suing three companies, Gemini, Genesis, and DCG, for $1 billion over alleged cryptocurrency fraud.

Follow us on Google News

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

Why I am still optimistic despite noise

June 26, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

USDC deposits and withdrawals are now available on Optimism!

December 6, 2023

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Hong Kong financial company VSFG aims to apply for a spot Ethereum ETF in the second quarter.

February 2, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.