Genesis Faces $21 Million Penalty As SEC Charges Are Settled | Bitcoinist.com

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Bitcoin, btcusd, Crypto, Crypto News, Crypto regulation, Crypto Regulations, cryptocurrencies, Cryptocurrency, DeFi, digital currency, Earn Program, Gemini Crypto Exchange, Genesis, Genesis bankruptcy, Genesis Capital, Genesis crypto, Genesis Global Capital, Genesis loans, Genesis news, Genesis withdrawals, total crypto market cap, US crypto regulation

Crypto lender Genesis Global, has agreed to a final judgment imposing a $21 million civil penalty and a permanent injunction as part of a settlement with the US Securities and Exchange Commission (SEC). The settlement resolves charges against Genesis related to the unregistered offer and sale of “securities” through its crypto asset lending program, the […]

Genesis Bankruptcy Plan Faces Criticism As DCG Alleges ‘Overpayment’ Of Customer Claims | Bitcoinist.com

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Crypto, Crypto News, cryptocurrencies, Cryptocurrency, DCG, DCG news, DeFi, digital currency, Digital Currency Group, Genesis, Genesis bankruptcy, Genesis Capital, Genesis crypto, Genesis Digital Assets, Genesis Global Capital, Genesis news, Genesis Trading, Genesis withdrawals

In a recent development, Digital Currency Group (DCG), the parent company of bankrupt crypto lender Genesis Capital, has objected to Genesis’ bankruptcy plan, arguing that it violates the Bankruptcy Code.  DCG’s objection centers around Genesis’ proposal to pay customers more than they are legally entitled to, a move that DCG believes “unfairly” favors a select group […]

Genesis Reaches Agreement With SEC, Agrees To Pay $21 Million In Gemini Earn Program Lawsuit | Bitcoinist.com

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Crypto, Crypto News, Crypto regulation, Cryptocurrency, DeFi, digital currency, Digital Currency Group, Genesis, Genesis bankruptcy, Genesis Capital, Genesis crypto, Genesis Global Capital, Genesis news

Genesis Global, a Digital Currency Group (DCG) subsidiary, has reached a settlement agreement with the US Securities and Exchange Commission (SEC) to end a civil lawsuit.  The regulator accused the bankrupt crypto lender of violating securities rules through its now-terminated Gemini Earn program. Genesis has agreed to pay a $21 million civil penalty as part […]

Genesis Agrees To Settle With New York DFS, Surrenders BitLicense And Pays $8M Fine | Bitcoinist.com

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Crypto, Crypto News, Crypto regulation, cryptocurrencies, Cryptocurrency, DeFi, digital currency, Digital Currency Group, Genesis, Genesis bankruptcy, Genesis crypto, Genesis Digital Assets, Genesis global, Genesis Global Capital, Genesis news, Genesis Trading, regulation, US crypto regulation

A recent Fortune Magazine report revealed that the New York Department of Financial Services (DFS) is set to announce a settlement with Genesis Global, a subsidiary of the crypto conglomerate Digital Currency Group (DCG).  In a statement shared with Fortune, Superintendent Adrienne Harris expressed concerns about Genesis’ failure to maintain a functional compliance program, stating […]