US SEC closes investigation into cryptocurrency exchange Gemini... CEO says ”end of crackdown”

The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Gemini, a major cryptocurrency exchange.
Cameron Winklevoss revealed that the SEC has closed its investigation into Gemini, calling it a "step toward ending the war on the crypto industry."
"This is another milestone in our efforts to protect our customers," he said. He added that "considerable damage has already been done." According to a notice shared by Wink CEO Lubos on the same day, the SEC
The agency has concluded its investigation into Ni and made it clear that it is not recommending any law enforcement action based on the information it has obtained to date.
On January 12, 2023, the SEC announced that it had filed suit against cryptocurrency lender Genesis Global Capital.
The Fed previously filed charges against Genesis Global Capital and cryptocurrency exchange Gemini for selling unregistered securities through their “Earn” program.
However, the SEC added that its decision does not mean exoneration and that further investigations remain possible.
"Given the damage caused by the SEC, the end of this investigation is no consolation," said WINK CEO Lubos.
"The SEC has cost Gemini tens of millions of dollars in legal fees alone, and hundreds of millions of dollars in lost productivity, creativity and innovation. Of course, Gemini is not the only one affected.
"The SEC's overall regulatory approach has caused enormous economic losses to the entire cryptocurrency industry and negatively impacted the economic growth of the United States," he continued.