TechFlow News, May 28: According to Cointelegraph, the U.S. Commodity Futures Trading Commission (CFTC) has requested a federal court to vacate its prior $5 million settlement agreement with cryptocurrency exchange Gemini, citing credibility concerns regarding the whistleblower allegations underlying the case and stating that the complaint would not have been filed under current enforcement standards.
The settlement agreement was reached in January 2025 and concerned alleged false or misleading statements made by Gemini during its review of bitcoin futures contracts. The CFTC also stated that enforcing the forward-looking provisions of the settlement agreement would be inconsistent with its mission and the public interest.
Previously, Gemini had already paid the $5 million penalty; whether it will be refunded remains unclear.
