Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Coinpedia Fintech News on May 27, 2023, 09:33:53 AM
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Gemini has vehemently responded to the U.S. Securities and Exchange Commission (SEC) in a captivating legal showdown. The renowned cryptocurrency exchange, alongside its troubled partner, the bankrupt lender Genesis, is gearing up for an intense legal battle as it aims to challenge the SEC's lawsuit targeting its groundbreaking Earn Product. Gemini firmly rejects the SEC's claims, denouncing them as "ill-conceived," and steadfastly maintains that its innovative Earn product, designed to offer crypto depositors attractive yields, does not fall under the category of a security.
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Good luck to Gemini for this good fight. In any case, they should also think of moving a big part of their crypto-based business abroad just like what Coinbase is doing right now. USA is now the official enemy of the cryptocurrency industry...and as such it does not deserve of any tax it is getting from the business revenues generated.