CFTC Seeks to Overturn Gemini Settlement from 2025
- The U.S. Commodity Futures Trading Commission (CFTC) filed a request in federal court to negate a $5 million settlement with Gemini.
- The original enforcement action against Gemini began in 2017, with allegations of misleading statements regarding bitcoin futures contracts.
- The CFTC concluded that the complaint against Gemini “should not have been filed” under current enforcement standards.
- If granted, the request would nullify all requirements under the previous settlement, including an injunction against false statements.
- CFTC Chairman Mike Selig has shifted the agency’s stance towards embracing digital assets since his appointment.
This development marks a significant change in the CFTC’s approach to crypto regulation, reflecting evolving enforcement standards and leadership priorities within the agency.
The outcome of this case could impact Gemini’s operations significantly, potentially lifting restrictions imposed by the prior settlement from 2025. (Source)
