The U.S. Commodity Futures Trading Commission has filed a motion to vacate a settlement it reached with Gemini in 2022, arguing the case would not have been brought under current leadership and enforcement priorities. The regulator reviewed the original matter and concluded that pursuing it no longer aligns with its present approach to crypto oversight. The move reflects a broader shift in regulatory posture toward the digital asset industry under new CFTC management, which has signaled a less adversarial stance compared to previous administrations. If the court approves the request, the settlement — which had imposed penalties on the crypto exchange — would effectively be erased, marking a notable reversal in how the agency views its earlier enforcement actions against crypto firms.
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