NEW YORK (Reuters) -The U.S. Securities and Exchange Commission agreed to settle a lawsuit that accused an exchange run by billionaire twins Tyler and Cameron Winklevoss of failing to register a cryptocurrency asset lending program before offering it to retail investors.

In a letter filed on Monday in Manhattan federal court, lawyers for the SEC and the twins' Gemini Trust said the resolution in principle would "completely resolve this litigation" over Gemini Earn, subject to approval by the commission.

(Reporting by Jonathan Stempel in New York)