1/29/2024 0 Comments Gemini earn![]() ![]() Gemini aggregated the digital assets to be invested in the Gemini Earn program and placed them in a digital wallet from which Genesis would then take possession of the assets. Through Gemini Earn, investors would then tender their digital assets to Genesis, with Gemini acting as the agent for retail investors to facilitate the transaction. ![]() Under the terms of the Gemini Earn Agreement, Gemini Earn investors first had to hold eligible digital assets with Gemini - either by transferring the digital assets to Gemini or acquiring them via Gemini’s crypto asset trading platform. The action against Genesis and Gemini is the most recent action in which the SEC applies Reves to the digital asset space. The availability of an alternative regulatory regime that “significantly reduces the risk of the instrument” for investors other than the securities laws, “thereby rendering application of the Securities Acts unnecessary.” 4.The expectations of the investing public and.Under Section 2(a)(1) of the Securities Act, the definition of a security includes any “note.” 3 A note is presumed to be a security unless it bears a strong resemblance to instruments that are not securities, which courts determine by examining four factors: 2 In Reves, the Court established a test for when a note is a security. The monster unleashed by the SEC is the U.S. Securities and Exchange Commission (SEC) has unleashed the Kraken (not the digital asset company) to unleash havoc on Genesis Global Capital LLC (Genesis) and Gemini Trust Company LLC (Gemini). Like Zeus unleashing the Kraken in Clash of the Titans, 1 the U.S.
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