SEC Concludes Gemini Probe Without Charges

The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Gemini, stating it will not recommend any enforcement actions against the cryptocurrency exchange. This decision has been welcomed by the crypto market, resulting in a surge in the price of Gemini's native token, GUSD, and increases in other cryptocurrencies like Bitcoin and Ethereum. Cameron Winklevoss, Gemini's co-founder, expressed relief but criticized the SEC for its costly and lengthy investigation, which he claims stifled innovation and imposed significant financial burdens on the company. Despite the closure of the investigation, the SEC clarified that this is not an exoneration and future actions could still be possible. Winklevoss called for reforms in SEC's approach, including legal reimbursements and transparency about staff involved in such investigations. This development is seen as part of a broader trend of regulatory easing by the SEC, which has recently closed investigations against other crypto entities such as Coinbase and Uniswap.