The U.S. Commodity Futures Trading Commission and crypto exchange Gemini have filed a joint motion to reverse a 2025 consent order that required Gemini to pay a $5 million settlement. The unusual move sees the regulator itself acknowledge the order should not have been filed, signaling a significant shift in enforcement posture under the current administration. The joint filing suggests both parties reached agreement that the original action lacked sufficient legal or factual grounding. If the motion is granted by the court, Gemini would be relieved of the financial penalty imposed under the earlier settlement. The development reflects a broader pattern of U.S. financial regulators revisiting or softening crypto enforcement actions that were initiated in prior years, drawing attention from the wider industry.
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