SEC Resolves Unlicensed Cryptocurrency Lending Case Against Gemini
The US Securities and Exchange Commission (SEC) has been adjusting its approach to overseeing the cryptocurrency industry, marking a significant shift since Donald Trump's presidency began. The latest initiative, announced by SEC Chair Paul S. Atkins, represents a softer stance towards digital assets and their main players. This change is part of the SEC's Spring 2025 regulatory agenda, emphasizing clearer frameworks, regulatory certainty, and support for innovation through "Project Crypto" and related efforts.
Meanwhile, across the globe, Pakistan has invited crypto firms to serve its 40 million users. This move indicates a growing acceptance of digital currencies in the country, as Pakistan continues to explore the potential benefits that cryptocurrencies can bring.
In the United States, the SEC has dropped enforcement actions against several major crypto exchanges, including Coinbase, Binance, and Uniswap. This decision signifies a more accommodating approach towards the industry, paving the way for greater participation and investment in the digital asset market.
Among the crypto companies benefiting from this new stance is Gemini. The company recently successfully raised $425 million in its initial public offering (IPO) and was valued at approximately $3.3 billion after the offering. The shares of Gemini, trading on the Nasdaq under the ticker name GEMI, closed Monday's trading session at $32.52, marking a 16% increase from the $28 IPO price.
The softening of the SEC's stance towards digital assets and key players, coupled with the success of companies like Gemini, suggests a promising future for the cryptocurrency industry in the United States. As more countries follow suit and embrace digital currencies, the potential for growth and innovation in this space is vast.
