The post Gemini Joins Coinbase in Rejecting SEC Veterans in the Crypto Industry appeared on BitcoinEthereumNews.com.

Tyler Winklevoss, co-founder of the Gemini crypto exchange, has declared that his company will adopt the same policy as Coinbase, cutting ties with any law firms or entities that hire former U.S. Security and Exchange Commission (SEC) officials associated with alleged overreach against the digital asset industry. His decision comes in the wake of Coinbase CEO Brian Armstrong’s recent remarks, where he criticized law firms and industry stakeholders for welcoming ex-SEC employees implicated in anti-crypto policies. Tyler Winklevoss Amplifies Armstrong’s Message In a November 5 post on X, Winklevoss asked for a “running list” of SEC officials involved in what he described as an “unlawful war on crypto,” vowing to do the same at Gemini as Armstrong had done at Coinbase. The Coinbase executive’s strong position led to his company cutting ties with global law firm Milbank after it hired former SEC Director of Enforcement, Gurbir Grewal. The lawyer, who played a central role in more than one hundred enforcement actions, resigned just before the SEC’s appeal in its high-profile case against Ripple. At the time, legal experts questioned why he had picked that particular moment to jump ship, with some speculating it signaled discord within the agency. The broader crypto community also scrutinized the SEC’s tactics, with critics like attorney Jeremy Hogan arguing that its appeal in the Ripple case risked backfiring, potentially weakening its regulatory influence over the industry. Armstrong had accused the financial watchdog’s leadership of attempting to stifle the crypto sector through unclear regulations and enforcement actions. He argued that senior officials who did not resign during this tenure bear responsibility for the SEC’s controversial tactics. Further, he emphasized that while he did not support “canceling people permanently,” he was of the opinion that those who contributed to the regulatory agency’s overreach should not be allowed…

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Filed under: News - @ December 8, 2024 5:14 pm