Genesis Global has reportedly settled with the Office of the New York Attorney General (NYAG) after reaching an agreement with the U.S. Securities and Exchange Commission (SEC).

The settlement follows allegations from the NYAG that Genesis, alongside its parent company Digital Currency Group and the cryptocurrency exchange Gemini, was involved in misleading activities tied to its lending platform.

This marks a significant step for Genesis Global as it moves past the legal challenges associated with the accusations of "fraudulent schemes" labeled by the NYAG.

The agreement with both the SEC and NYAG indicates Genesis Global's efforts to resolve the regulatory disputes and potentially paves the way for future operations within a compliant legal framework.