PANews reported on September 16th that, according to The Block, the U.S. Securities and Exchange Commission (SEC) and Gemini Exchange have reached a "resolution in principle" after the agency accused the crypto exchange of failing to comply with regulations when launching a crypto lending program. In court documents filed Monday with Judge Edgardo Ramos of the U.S. District Court for the Southern District of New York, lawyers for Gemini Trust Company, LLC and the SEC stated that the two parties had reached a resolution in principle, stating that the regulator still needs to sign off. They also requested a suspension of all "pending dates."

Previously in January 2023, the U.S. SEC filed a lawsuit against Genesis Global Capital, LLC and Gemini, accusing them of providing unregistered securities issuance and sales to retail investors through Gemini Earn.