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Market
Future regulatory actions against Digital Currency Group subsidiaries by 2024
5
Resolution / Starting Odds
No further actions • 34%
Minor fines or penalties • 33%
Major regulatory actions or lawsuits • 33%
Public records, regulatory announcements
Story
NY Attorney General Secures $2 Billion Settlement with Bankrupt Genesis Global Capital, a Digital Currency Group Subsidiary
May 20, 2024, 04:00 PM
New York Attorney General Letitia James has secured a $2 billion settlement with bankrupt cryptocurrency lender Genesis Global Capital, a subsidiary of Digital Currency Group. The settlement, approved by a bankruptcy judge, addresses allegations that Genesis misled investors about its Gemini Earn program, resulting in over $1 billion in losses. As part of the agreement, Genesis is banned from operating in New York and will repay the defrauded investors. This decision comes after extensive negotiations and aims to provide restitution to hundreds of thousands of investors across the U.S.
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No action • 33%
1-2 actions • 33%
3 or more actions • 33%
New strict regulations passed • 33%
Regulations relaxed or removed • 33%
No significant regulatory change • 34%
Additional fines imposed • 33%
Further legal actions • 33%
No further actions • 34%
No further actions • 25%
Fines in other countries • 25%
Operational restrictions • 25%
License revocations • 25%
No further action • 25%
Minor fines or penalties • 25%
Major fines or restructuring required • 25%
License revocation or major sanctions • 25%
No action • 33%
Fines imposed • 33%
Other regulatory actions • 33%
Compliance • 25%
Non-compliance • 25%
Legal Challenge • 25%
Service Modification • 25%
New regulations introduced • 33%
Existing regulations enforced more strictly • 33%
No change in regulations • 34%
Coinbase • 25%
Kraken • 25%
Uniswap • 25%
Other • 25%
Clear guidelines established • 33%
Continued litigation • 33%
No major changes • 33%
Criminal charges • 33%
Civil lawsuits • 33%
No legal actions • 33%