Gemini, a cryptocurrency exchange, is trying to get rid of a lawsuit from the U.S. Securities and Exchange Commission (SEC).
The SEC claims that Gemini Earn, a service that lets customers lend crypto assets like Bitcoin to Genesis, broke the law by offering securities without registering them.
Gemini said in a court document filed on Aug. 18 in the U.S. District Court for the Southern District of New York that the SEC’s claim is vague and unclear.
“The securities act’s section 5 is easy to follow,” the document said while challenging the SEC to show how Gemini Earn violated the act.
