CFTC asks court to scrap Gemini’s $5M enforcement deal
The U.S. Commodity Futures Trading Commission has moved to scrap its $5 million settlement with crypto exchange Gemini after concluding that the enforcement case should not have been filed under the agencys current standards.The CFTC has asked a federal court to vacate its $5 million settlement with Gemini after concluding the case should not have been filed.Regulators said the original complaint relied heavily on a whistleblower account that lacked credibility.Gemini had settled the case in January 2025 over allegations tied to statements made during the approval process for a Bitcoin futures contract. In a joint motion filed Wednesday in a Manhattan federal court, the CFTC and Gemini asked the court to vacate the January 2025 consent order that resolved allegations tied to Geminis proposed Bitcoin futures contract. The regulator said it had reviewed the matter and determined that continuing enforcement of the settlements remaining provisions would not serve the public interest. As previously reported by crypto.news, Gemini agreed to pay a $5 million civil penalty to settle claims that it provided misleading information to the agency while seeking approval for what was set to become the first regulated Bitcoin futures contract in the U.S. The company settled the matter without admitting or denying








