CFTC Seeks to Overturn Gemini Settlement, Citing New Standards
U.S. CFTC files request to erase Gemini settlement that it no longer considers fair
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The U.S. Commodity Futures Trading Commission (CFTC) has requested to nullify a settlement with crypto exchange Gemini, originally reached in January 2025. The CFTC now believes the case should not have been pursued under current enforcement standards, reflecting a shift in the agency's approach to the crypto industry.
- 01The CFTC filed a request in federal court to negate a settlement with Gemini, originally secured in January 2025.
- 02The agency concluded that the complaint against Gemini should not have been filed under current standards.
- 03Gemini was fined $5 million in 2025 for allegedly making misleading statements about bitcoin futures contracts.
- 04The request to cancel the settlement would nullify Gemini's obligations, including an injunction against making false statements.
- 05The CFTC's stance on crypto has shifted significantly since the Trump administration, with a more favorable view under current leadership.
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The U.S. Commodity Futures Trading Commission (CFTC) has taken steps to nullify a settlement with the cryptocurrency exchange Gemini, which was reached in January 2025. The CFTC's recent review of the case revealed that the complaint against Gemini, which involved allegations of misleading statements regarding bitcoin futures contracts, should not have been filed under the agency's current enforcement standards. This settlement included a $5 million fine for Gemini and established requirements that the company must adhere to, including an injunction against making false statements to the CFTC. If the U.S. District Court for the Southern District of New York approves the CFTC's request, these obligations would be lifted. The CFTC's approach to the crypto industry has notably changed since the Trump administration, particularly with the appointment of Chairman Mike Selig, who has prioritized digital assets in his policy agenda. This shift reflects a growing acceptance of cryptocurrency within regulatory frameworks.
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The potential cancellation of the settlement could significantly alter Gemini's operational landscape and regulatory obligations.
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