Court Upholds Gemini’s $5 Million Settlement Despite CFTC’s Shift
- A federal judge rejected a joint motion by Gemini and the Commodity Futures Trading Commission (CFTC) to overturn a $5 million settlement.
- The settlement was originally agreed upon due to allegations that Gemini misled the regulator during its review of a proposed Bitcoin futures product in 2017.
- Despite the CFTC’s evolved approach to digital assets, the court ruled that changes in enforcement policy do not nullify final court orders.
US District Judge Alvin Hellerstein maintained the existing judgment against Gemini, indicating that courts retain control over their rulings even if regulatory agencies alter their stance on cryptocurrency cases.
The decision underscores that historical enforcement outcomes remain intact despite shifts in regulatory perspectives, leaving Gemini bound by its initial $5 million penalty agreement. (Source)
