The Securities and Exchange Commission (SEC) and crypto exchange Gemini have requested a temporary halt to the legal proceedings regarding Gemini’s Earn program. In a letter filed on April 1 with Judge Edgardo Ramos of the New York federal court, the SEC, along with Genesis Global Capital, the company also involved in the case, requested a 60-day pause in the litigation. This postponement would allow for possible out-of-court settlement discussions and end the case without requiring judicial intervention. The letter also emphasized that no party would be disadvantaged by this delay and would streamline judicial processes. The SEC initially sued Gemini and Genesis in January 2023 alleging unregistered securities sales through the Earn program, a claim which is still pending. However, Genesis settled with the SEC in March 2024 for $21 million. Notably, the SEC has been scaling back on enforcement actions during President Biden’s administration, dropping several lawsuits including those against Coinbase, Ripple, and Kraken. Gemini co-founder Cameron Winklevoss recently criticized the SEC for wasting time and money, while other platforms like OpenSea, Crypto.com, and Uniswap have seen their investigations by the SEC come to a close. A similar trend is emerging.