May 28
CFTC seeks to vacate $5M penalty against Gemini Trust Company
The CFTC and Gemini Trust jointly asked a judge to vacate a $5M penalty, with the regulator saying it should never have accused the exchange of false statements.
➤ The CFTC and Gemini Trust are jointly requesting a judge to vacate a $5 million penalty and permanent injunction previously imposed on Gemini. ➤ The CFTC admits the original accusations were based on non-credible whistleblower information and that it 'should never have accused Gemini of making false statements.' ➤ This action, potentially influenced by political shifts and donations, could set a precedent for other crypto firms seeking to reverse past enforcement actions.
