The Securities and Exchange Commission on Thursday charged Digital Currency Group's Genesis Global Capital and the Cameron and Tyler Winklevoss-founded crypto exchange Gemini for selling unregistered securities.
: The SEC pointed to the contract — called the Master Digital Asset Loan Agreement — struck between Genesis, a crypto lender, the exchange Gemini and customers in its yield-bearingGemini and Genesis allegedly raised billions of dollars from retail investors, promising those customers a return on their assets in exchange for a signed contract, according to the SEC complaint.: The SEC is not saying any digital assets are securities here, rather they are pointing to the contract itself.
Gemini customers tendered crypto assets to Genesis and Genesis promised to pay them interest on those assets, the SEC alleges.Of note
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