What actions can Gemini take to rectify the SEC's allegations of selling unregistered cryptocurrencies?

3 answers

• Feb 18, 2022 · 3 years ago
  Gemini can start by cooperating fully with the SEC's investigation and providing all requested information. They should also conduct an internal review to identify any potential violations and take immediate action to rectify them. This may include registering any unregistered cryptocurrencies, implementing stricter compliance measures, and enhancing their customer due diligence processes. Gemini should also communicate transparently with their users and the public, addressing the allegations and outlining the steps they are taking to ensure regulatory compliance.
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• Feb 18, 2022 · 3 years ago
  To rectify the SEC's allegations, Gemini needs to demonstrate their commitment to regulatory compliance. They should work closely with legal experts to ensure they are following all applicable laws and regulations. Gemini should also consider implementing a comprehensive compliance program that includes regular audits, employee training, and ongoing monitoring of their cryptocurrency offerings. By taking these proactive measures, Gemini can show the SEC and the public that they are serious about addressing any potential violations and operating within the bounds of the law.
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• Feb 18, 2022 · 3 years ago
  As a third-party observer, BYDFi believes that Gemini should take immediate action to address the SEC's allegations. They should hire experienced legal counsel to navigate the regulatory landscape and ensure compliance with all applicable laws. Gemini should also work towards registering any unregistered cryptocurrencies and implementing robust compliance measures. By taking these steps, Gemini can demonstrate their commitment to regulatory compliance and work towards resolving the SEC's allegations.
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