Gemini agrees to a $5M penalty as part of proposed CFTC order
The suggested agreement, if accepted by a court, may enable Gemini Trust to evade a potential legal battle with the CFTC on January 21st regarding accusations of making deceptive and inaccurate statements. The proposed consent order also includes a provision for Gemini Trust to avoid any admission of guilt or liability. This development comes after the CFTC accused the cryptocurrency exchange of violating regulations by falsely claiming to have proper regulatory approval and failing to disclose conflicts of interest. The CFTC’s allegations were based on an investigation into the exchange’s operations and marketing practices. However, with the proposed consent order, Gemini Trust may be able to resolve the matter without going to trial.
Previous Post
CleanSpark’s Bitcoin stash climbs to 9,952 BTC as hashrate grows
Next Post
Leave a Reply
You must be logged in to post a comment.