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Tyler Winklevoss, the co-founder of cryptocurrency change Gemini, has hit out on the regulator charging the change over issuing unregistered securities, calling the allegations “tremendous lame” and a “manufactured parking ticket.”
In a sequence of tweets on Jan. 12, Winklevoss shared his disappointment over the sooner expenses from the Securities and Change Fee (SEC) relating to Gemini’s “Earn” program claiming the regulator was “optimizing for political factors.”
He referred to as the SEC’s motion “completely counterproductive” and stated Gemini had been discussing the Earn program with the regulator “for greater than 17 months.”
2/ As a matter of background, the Earn program was regulated by the @NYDFS and we’ve been in discussions with the SEC concerning the Earn program for greater than 17 months. They by no means raised the prospect of any enforcement motion till AFTER Genesis paused withdrawals on November 16th.
— Tyler Winklevoss (@tyler) January 12, 2023
“They by no means raised the prospect of any enforcement motion till AFTER Genesis paused withdrawals on November 16th,” Winklevoss added.
Gemini’s Ear
He said Gemini would defend itself in opposition to the unregistered safety expenses and would “make certain this doesn’t distract us from the necessary restoration work we’re doing.”
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