SEC and Gemini file joint letter to resolve legal dispute

The U.S. Securities and Exchange Commission (SEC) and cryptocurrency exchange Gemini have been given 60 days to seek a resolution to their legal dispute over the Gemini Earn program.
According to The Block on the 1st (local time), the joint letter was filed in the Southern District of New York and states that the SEC will set a deadline for Gemini to be in January 2023.
The SEC is seeking an extension of all deadlines in its lawsuit filed against Gemini over its cryptocurrency lending program, Gemini
The company claims to have raised billions of dollars worth of crypto assets through the sale of unregistered securities through its cryptocurrency exchange, Ethereum Securities & Exchange Commission (Earn).
The joint letter was submitted by Gemini co-founder Cameron Winklebos.
Winklevoss announced that the SEC had closed its investigation into Gemini and notified it that it would not be taking further legal action.
The SEC's change of stance comes as the agency is in the process of setting a more crypto-friendly policy tone following the election of President Donald Trump.
The company has dropped lawsuits or dropped investigations against several cryptocurrency companies, including PayPal, OpenSea, and Immutable.