Gemini to open Miami office after judge stays SEC case

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The story "Gemini to open Miami office after judge stays SEC case" was covered 1 days ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 1d ago

Gemini to open Miami office after judge stays SEC case - Coin Telegraph

Quick Summary:

The move to Florida came amid a federal judge ordering a 60-day stay on the SEC’s lawsuit against Gemini Global Capital “to allow the parties to explore a potential resolution.” The enforcement action, filed in January 2023, alleges the crypto firm offered and sold unregistered securities through its Gemini Earn program. Cameron Winklevoss said in February that the regulator had closed an investigation into a separate matter involving Gemini.

The cryptocurrency exchange Gemini, backed by Cameron and Tyler Winklevoss, plans to move into a Miami-area office space, as US Securities and Exchange Commission (SEC) enforcement case may have reached its end.

The exchange may have pursued an IPO as early as 2021 before shares of many US-based crypto firms were publicly traded. Several crypto firms have regional offices in Miami, possibly due to Florida’s seemingly favorable regulatory environment and the lack of state income tax for residents.