The U.S. Securities and Exchange Commission (SEC) and Gemini Trust Request a 60-Day Stay in Cryptocurrency Lending Lawsuit
The U.S. Securities and Exchange Commission (SEC) and Gemini Trust have jointly requested a 60-day stay in their legal dispute regarding the Gemini Earn program.
The request does not specify whether this stay will lead to a settlement, dismissal of the case, or any other outcome.
The SEC and Gemini Trust filed a joint request to pause their ongoing legal dispute over the Gemini cryptocurrency lending program.
The request, submitted on April 1, 2025, in the U.S. District Court for the Southern District of New York, seeks to stay all case deadlines for 60 days to allow for dialogue between the parties.
The request does not indicate whether negotiations will lead to a settlement, dismissal of the case, or another resolution.
Background of the Legal Dispute
The SEC initially filed a lawsuit against Gemini and Genesis Global Capital, a cryptocurrency lender, in January 2023, alleging that their Gemini Earn program illegally raised billions of dollars without registering as a securities offering.