Gemini argues SEC failed to state a claim in lawsuit over unregistered securities

08/20 06:41

Cryptocurrency exchange Gemini has responded to the lawsuit filed against it by the SEC, arguing that the SEC has failed to state a claim. Gemini contended that the SEC needs to identify the unregistered security first and then pinpoint the sale or offer to sell that security. The exchange also argued that the court should pose straightforward questions to determine if it qualifies as a security or not. Gemini's lawyer suggested that the SEC is changing its argument as the lawsuit goes on and that its argument is confusing.

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