Gemini and Genesis seek closure of lawsuit filed by the SEC

Crypto-exchange Gemini and bankrupt crypto-broker Genesis have filed motions to dismiss on the case brought by the US SEC, which accused them of offering unregistered securities.  Gemini and Genesis and the filing of the SEC case In a court document filed on 26 May 2023, Gemini’s crypto-exchange and Genesis’ now-bankrupt crypto-lender ask for a motion to dismiss on the case filed by the US Securities and Exchange Commission (SEC).  The subject of the lawsuit is Gemini’s “Earn” asset lending program, involving Genesis Global Capital as a third-party borrower, in a contract called the Master Digital Asset Loan Agreement or MDALA.