SEC and Gemini Request 60-Day Pause on Lawsuit from Court

# SEC and Gemini Agree to 60-Day Pause in Ongoing Legal Dispute The U.S. Securities and Exchange Commission (SEC) and cryptocurrency exchange Gemini are expected to pause their legal battle for 60 days, according to reports from foreign media on Nov. 2. On Nov. 1, representatives from both parties submitted a joint letter to Judge Edgardo Ramos of the New York federal court, requesting a temporary halt to proceedings. The legal dispute centers around Gemini’s "Earn" program, which has been under scrutiny for potential securities law violations. Earlier this year, in January 2023, the SEC filed a lawsuit against Gemini and Genesis Global Capital, alleging that the two companies had offered unregistered securities through the Earn program. While Genesis settled with the SEC in March by paying $21 million in fines, Gemini has continued to contest the allegations. In the broader context, since the Trump administration, the SEC has been resolving numerous legal disputes involving digital asset companies. Several high-profile cases involving major players like Coinbase, Ripple, and Kraken have been dismissed or concluded, signaling a shift in the regulatory landscape for the cryptocurrency industry.