Genesis agrees to pay $21M to settle SEC case

Genesis agreed to pay a $21 million civil penalty to settle charges related to its Gemini Earn lending program.

Genesis Global Capital has agreed to pay a $21 million civil penalty as part of a final court judgment to settle charges related to the Gemini Earn lending program.

“Today’s settlement builds on previous actions to make clear to the marketplace and the investing public that crypto lending platforms and other intermediaries need to comply with our time-tested securities laws. Doing so best protects investors. It promotes trust in markets. It’s not optional. It’s the law.”

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