The U.S. Commodity Futures Trading Commission (CFTC) has proposed a settlement with Gemini Trust Company that, if approved, could help the crypto firm avoid a looming civil trial. Filed on January 6 in the U.S. District Court for the Southern District of New York, the consent order outlines the resolution of all claims against Gemini, requiring the firm to pay a $5-million civil penalty and adhere to new restrictions on communication with the CFTC.
Background of the Case
The civil case, initiated in June 2022, accused Gemini of providing false or misleading statements regarding its 2017 application to launch Bitcoin futures contracts. Specifically, the CFTC alleged that Gemini engaged in practices, such as bespoke fee arrangements for certain market participants, that were not disclosed on its website and may have influenced trading in the Gemini Auction.
In the proposed settlement, Gemini admits that it “reasonably should have known” its statements were false or misleading during the relevant period (2016–2017). This acknowledgment would close the chapter on the allegations but also bind Gemini from making similar misstatements in the future.
View the full consent order filing.
Avoiding a Civil Trial
This settlement, if approved by a judge, allows Gemini to sidestep the civil trial scheduled for January 21, 2025. A federal judge had already warned in December that no further adjournments would be granted. By agreeing to the proposed terms, Gemini avoids prolonged litigation and potential reputational damage.
Read more about the allegations in the June 2022 filing.
Broader Implications
The proposed settlement is part of a broader crackdown by the CFTC on crypto firms violating U.S. commodities laws. In fiscal year 2024, the commission recovered $17 billion through civil monetary penalties, disgorgement, and restitution from various cases, including those involving crypto firms.
Despite these enforcement efforts, regulatory uncertainty continues. As President-elect Donald Trump prepares for his inauguration on January 20, 2025, he is reportedly considering replacing current CFTC Chair Rostin Behnam. However, unlike the U.S. Securities and Exchange Commission (SEC), no resignations have been publicly signaled by CFTC commissioners.
Learn more about the CFTC’s enforcement activities.
Final Thoughts
Gemini’s willingness to settle suggests its aim to move past this legal hurdle and focus on its business operations. For the crypto industry, this case highlights the importance of transparency and regulatory compliance in interactions with oversight bodies.
What are your thoughts on the CFTC’s approach to crypto regulation? Will settlements like this drive the industry towards stricter compliance or stifle innovation?
82 Comments
Darrenbug
Freight delivery from China is dependable and efficient.
Our company offers custom solutions for businesses of any capacity.
We manage all transportation processes to make your supply chain smooth.
air shipping china
With regular shipments, we guarantee timely delivery of your orders.
Clients appreciate our skilled team and reasonable rates.
Choosing us means confidence in every delivery.
PokerPhantom
https://t.me/s/officials_pokerdom/4106
bs bet com
E aí, cambada! Descobri a bs bet com e tô viciado! A interface é clean e as apostas são variadas. Um prato cheio pra quem curte dar uns palpites! bs bet com
RouletteRogue
https://t.me/s/iGaming_live/4867
jljl88link
That’s a bold prediction! Seems like player experience is key these days, and platforms like jljl88 link game are raising the bar with smoother registration & security. Interesting to see how this plays out!
otvorenie úctu na binance
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://accounts.binance.com/register?ref=P9L9FQKY
BluffMaster
https://t.me/s/iGaming_live/4864
PokerdomNob
https://t.me/s/officials_pokerdom/3483
DealerShadow
https://t.me/s/Beefcasino_officials
saklaking
Really interesting read! The focus on secure, regulated platforms like sakla king games is key for Filipino players. Easy deposits (GCash, PayMaya!) are a huge plus too – makes getting in the game so simple! 👍
MichaelBem
Домашние задания имеют важную роль в учёбе.
Они помогают повторять новый материал.
Систематическая работа домашних заданий формирует ответственность.
Задания также учат планированию.
http://www.altasugar.it/new/index.php?option=com_kunena&view=topic&catid=3&id=251966&Itemid=151
Благодаря им ученики подготавливаются к проверочным работам.
Учителя могут понимать усвоение материала.
Таким образом, домашние задания остаются важными для успеха.
free binance account
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://www.binance.com/sk/register?ref=OMM3XK51
Enregistrement Binance
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
PokerdomNob
https://t.me/s/officials_pokerdom/3129
ChipWhisperer
https://t.me/s/iGaming_live/4868
RandyVow
The platform allows you to replace clothes on photos.
It uses artificial intelligence to fit outfits realistically.
You can test various styles instantly.
xnudes.ai|Superb Clothes Changer Neuro Tool
The results look convincing and stylish.
It’s a useful option for fashion.
Upload your photo and choose the clothes you want.
Enjoy using it right away.
RandyVow
The platform allows you to replace clothes in pictures.
It uses artificial intelligence to fit outfits naturally.
You can test different styles in seconds.
xnudes.ai
The results look real and professional.
It’s a useful option for outfit planning.
Submit your photo and select the clothes you want.
Start using it right away.
Michaelhiz
Подбирая риэлторскую компанию, важно обращать внимание на его статус.
Уважаемое агентство всегда имеет отзывы клиентов, которые можно проверить.
Также оцените, наличие разрешительные документы.
Серьёзные компании работают только на основе договоров.
Оценка недвижимости Казань
Важно, чтобы у агентства был стаж на рынке не меньше нескольких лет.
Обратите внимание, насколько открыто компания раскрывает условия сделок.
Хороший риэлтор всегда разъяснит на ваши запросы.
Выбирая агентство, доверьтесь не просто словам, а фактам работы.
AceSorcerer
https://t.me/s/Martin_casino_officials
jl boss
Smart bankroll management is key with any online gaming, and understanding the odds is crucial. Platforms like jl boss slot offer variety, but remember responsible play! It’s easy to get carried away – set limits & stick to them! 😉
AceSorcerer
https://t.me/s/iGaming_live/4864
binance code
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
LuckyBandit
https://t.me/s/iGaming_live/4864
DealerShadow
https://t.me/s/Martin_casino_officials
Κωδικ αναφορ Binance
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
PokerdomNob
https://t.me/officials_pokerdom/4128
PokerPhantom
https://t.me/s/Drip_officials
Mendaftar di Binance
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
RoyalFlusher
https://t.me/s/iGaming_live/4866
Immediate Olux
Immediate Olux se demarque comme une plateforme d’investissement en crypto-monnaies revolutionnaire, qui exploite la puissance de l’intelligence artificielle pour proposer a ses membres des atouts competitifs majeurs.
Son IA analyse les marches en temps reel, detecte les occasions interessantes et met en ?uvre des strategies complexes avec une finesse et une celerite inaccessibles aux traders humains, optimisant ainsi les perspectives de gain.
BluffMaster
https://t.me/dragon_money_mani/34
Clarte Nexive
Clarte Nexive se differencie comme une plateforme d’investissement crypto de pointe, qui met a profit la puissance de l’intelligence artificielle pour fournir a ses clients des atouts competitifs majeurs.
Son IA scrute les marches en temps reel, identifie les opportunites et applique des tactiques complexes avec une exactitude et une rapidite hors de portee des traders humains, maximisant ainsi les perspectives de gain.
9kbossapkdownload
Alright crew, looking for the 9kboss apk? Be careful where you download it from! Stick to the official site if you can to avoid any dodgy files. This one seems legit: 9kbossapkdownload
创建免费账户
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
PokerdomNob
https://t.me/officials_pokerdom/3928
PokerPhantom
https://t.me/s/Martin_casino_officials
TurkPaydexHub Review
TurkPaydexHub se demarque comme une plateforme de placement crypto revolutionnaire, qui exploite la puissance de l’intelligence artificielle pour offrir a ses utilisateurs des avantages concurrentiels decisifs.
Son IA etudie les marches financiers en temps reel, repere les opportunites et applique des tactiques complexes avec une exactitude et une rapidite inaccessibles aux traders humains, maximisant ainsi les perspectives de gain.
PokerdomNob
https://t.me/s/officials_pokerdom/3131
TurkPaydexHub
TurkPaydexHub se distingue comme une plateforme d’investissement en crypto-monnaies revolutionnaire, qui met a profit la puissance de l’intelligence artificielle pour proposer a ses membres des atouts competitifs majeurs.
Son IA scrute les marches en temps reel, detecte les occasions interessantes et applique des tactiques complexes avec une exactitude et une rapidite inatteignables pour les traders humains, optimisant ainsi les perspectives de gain.
leonhok
https://t.me/s/leon_casino_play
PokerdomNob
https://t.me/s/officials_pokerdom/3213
beefhok
https://telegra.ph/Beef-kazino-11-25
PokerdomNob
https://t.me/officials_pokerdom/3864
pokerdomNob
https://t.me/s/officials_pokerdom/79
AceSorcerer
https://t.me/s/Top_BestCasino/173
adelaide casino login
Thank you, I have just been searching for info approximately this subject for ages and yours is the greatest I’ve discovered so far. However, what about the conclusion? Are you sure in regards to the source?
Skapa personligt konto
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me? https://accounts.binance.info/sl/register-person?ref=I3OM7SCZ
spree casino app
Very good information. Lucky me I came across your site by chance (stumbleupon). I’ve saved it for later!
10 bet
Wow, that’s what I was seeking for, what a information! existing here at this website, thanks admin of this web site.
ملعب كرة القدم
Wow, that’s what I was looking for, what a information! present here at this blog, thanks admin of this web page.
8k8
Hurrah, that’s what I was searching for, what a stuff! existing here at this weblog, thanks admin of this web page.
leao
Hurrah, that’s what I was seeking for, what a stuff! present here at this webpage, thanks admin of this web site.
Persik Kediri
Wow, that’s what I was exploring for, what a data! present here at this web site, thanks admin of this website.
777 casino
Hurrah, that’s what I was seeking for, what a material! present here at this webpage, thanks admin of this web site.
lucky land casino login
Wow, that’s what I was looking for, what a stuff! present here at this webpage, thanks admin of this web site.
playcroco casino login
Hurrah, that’s what I was looking for, what a stuff! present here at this webpage, thanks admin of this site.
gamblemax casino app
Wow, that’s what I was exploring for, what a stuff! existing here at this website, thanks admin of this website.
789pro
Hurrah, that’s what I was looking for, what a material! present here at this webpage, thanks admin of this web page.
hellowin
Hurrah, that’s what I was exploring for, what a stuff! present here at this weblog, thanks admin of this site.
casino astoria
After I originally commented I seem to have clicked on the -Notify me when new comments are added- checkbox and now whenever a comment is added I recieve four emails with the same comment. Is there an easy method you can remove me from that service? Thanks!
woolworths casino
When I initially commented I appear to have clicked on the -Notify me when new comments are added- checkbox and now each time a comment is added I receive four emails with the exact same comment. Is there a means you are able to remove me from that service? Thanks a lot!
scrabble online
After I initially left a comment I appear to have clicked on the -Notify me when new comments are added- checkbox and now every time a comment is added I recieve 4 emails with the exact same comment. There has to be a means you can remove me from that service? Thanks!
casino sydney
When I initially commented I appear to have clicked the -Notify me when new comments are added- checkbox and from now on every time a comment is added I receive four emails with the same comment. Is there a means you are able to remove me from that service? Kudos!
pokiesurf casino
When I originally commented I appear to have clicked the -Notify me when new comments are added- checkbox and now every time a comment is added I receive four emails with the exact same comment. Is there an easy method you are able to remove me from that service? Thanks!
clubhouse casino
After I initially commented I seem to have clicked on the -Notify me when new comments are added- checkbox and from now on whenever a comment is added I recieve 4 emails with the same comment. There has to be a means you are able to remove me from that service? Thanks!
pokergo
After I initially commented I appear to have clicked the -Notify me when new comments are added- checkbox and now whenever a comment is added I recieve four emails with the exact same comment. Perhaps there is a means you are able to remove me from that service? Thanks a lot!
marbo
After I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and now whenever a comment is added I receive four emails with the same comment. Perhaps there is a means you can remove me from that service? Appreciate it!
av 在线
日本 av – https://kanav.so
winpot
I was suggested this blog by my cousin. I’m not sure whether this post is written by him as no one else know such detailed about my difficulty. You’re incredible! Thanks!
gbgbet
I visited multiple sites except the audio quality for audio songs existing at this site is in fact fabulous.
國產 av
It’s going to be finish of mine day, except before ending I am reading this enormous paragraph to improve my experience.
hi88
Thanks designed for sharing such a fastidious thinking, post is pleasant, thats why i have read it completely
國產 av
Hey There. I found your weblog the use of msn. That is a really well written article. I’ll make sure to bookmark it and come back to learn extra of your useful information. Thanks for the post. I’ll certainly return.
b2xbet
Hi there to all, how is the whole thing, I think every one is getting more from this web site, and your views are pleasant in favor of new viewers.
b2xbet
When I initially commented I seem to have clicked the -Notify me when new comments are added- checkbox and now whenever a comment is added I receive four emails with the exact same comment. Perhaps there is a way you are able to remove me from that service? Kudos!
winpot
Hey There. I found your blog using msn. This is an extremely well written article. I’ll be sure to bookmark it and come back to read more of your useful information. Thanks for the post. I will certainly return.
winpot
Does your blog have a contact page? I’m having a tough time locating it but, I’d like to shoot you an email. I’ve got some recommendations for your blog you might be interested in hearing. Either way, great website and I look forward to seeing it improve over time.
hi88
Hello, i believe that i saw you visited my site thus i came to return the prefer?.I am trying to in finding issues to enhance my website!I suppose its ok to make use of a few of your concepts!!
hi88
I’m amazed, I have to admit. Rarely do I encounter a blog that’s equally educative and amusing, and without a doubt, you’ve hit the nail on the head. The issue is something which not enough folks are speaking intelligently about. I am very happy that I stumbled across this in my hunt for something relating to this.
winpot
Good post. I learn something new and challenging on sites I stumbleupon on a daily basis. It’s always helpful to read articles from other writers and use something from their websites.
av 在线
obviously like your web site however you have to take a look at the spelling on several of your posts. Several of them are rife with spelling problems and I find it very troublesome to inform the reality then again I will certainly come back again.
國產 av
Have you ever thought about including a little bit more than just your articles? I mean, what you say is valuable and everything. Nevertheless think about if you added some great visuals or videos to give your posts more, “pop”! Your content is excellent but with images and clips, this site could undeniably be one of the very best in its field. Excellent blog!