Gemini

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sec-intensifies-legal-pressure-on-crypto-companies-post-market-crash" rel="noopener noreferrer nofollow">SEC Intensifies Legal Pressure on Crypto Companies Post-Market Crash</a><br></p>
<p style="text-align: justify">In a decisive legal move, the US Securities and Exchange Commission (SEC) has initiated lawsuits against <a href="https://en.bitcoinhaber.net/uk-researchers-probe-intellectual-property-concerns-in-the-metaverse" rel="noopener noreferrer nofollow">cryptocurrency</a> organizations struggling since the market’s downturn in 2023. The crypto lending boom of 2021, which sparked a bullish market, played a significant role in the subsequent market slump. Particularly affected was Genesis, the largest debtor in crypto lending, whose bankruptcy has caused substantial issues for Gemini exchange customers.</p>
<h2 id="judicial-ruling-upholds-sec-claims">Judicial Ruling Upholds SEC Claims</h2>
<p style="text-align: justify">Crypto firms Gemini and Genesis recently faced a legal setback when their attempt to dismiss an SEC-filed lawsuit was overruled by Judge Edgardo Ramos. The ruling, emanating from the Southern District of New York’s US District Court, confirmed that the allegations put forth by the SEC held merit and deserved consideration in court.</p>
<h2 id="application-of-howey-and-reves-tests">Application of Howey and Reves Tests</h2>
<p style="text-align: justify">In his assessment, Judge Ramos employed the Howey Test, which considers multiple factors in determining whether a financial arrangement should be subject to securities regulation, as well as the Reves Test. These tests helped establish the grounds for the SEC’s argument.</p>
<p style="text-align: justify">According to Judge Ramos, both tests reveal that Gemini and Genesis likely engaged in offering and selling securities without proper registration through the Gemini Earn program. Consequently, he concluded that there was sufficient basis to proceed with the case, denying the defense’s motion for dismissal.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sec-intensifies-legal-pressure-on-crypto-companies-post-market-crash" rel="noopener noreferrer nofollow">SEC Intensifies Legal Pressure on Crypto Companies Post-Market Crash</a></h5>

SEC Intensifies Legal Pressure on Crypto Companies Post-Market Crash

목차

BH NEWS

2024년 3월 13일에 게재된 다른 기사

Jack Dorsey Block Debuts Bitcoin Wallet, Skips Crypto Pay

io.net adds Apple chip support to its cloud-based GPU-sourcing network

Pepe Price: Will PEPE Hit $1 in 2024?

Wormhole Explains Why Some Users Are Getting More Airdrop Tokens Than Others

Bitcoin’s Price Surge Creates New Millionaires

TON Coin Gains Momentum with Record Trading Volume and Investor Optimism

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!