Crypto exchange Gemini has agreed to pay a $5 million settlement to the U.S. Commodity Futures Trading Commission (CFTC) over allegations of making misleading statements concerning the manipulability of Bitcoin futures. The CFTC lawsuit, filed in 2022, claimed that Gemini's assertions about the ease of manipulating Bitcoin futures contracts were deceptive, occurring more than seven years prior to the case. While Gemini settled without admitting or denying liability, the agreement included an injunction to prevent the exchange from making any false or misleading statements to the commission in the future. Moreover, Gemini faces ongoing legal challenges with the Securities and Exchange Commission (SEC), which a judge permitted to pursue a lawsuit against the exchange. This settlement comes amidst a broader regulatory scrutiny of crypto exchanges in the U.S., with several facing similar legal issues without specific legislation tailored to the crypto industry.

Source 🔗