Gemini Trust Company has reached a proposed consent order with the CFTC, potentially allowing it to avoid a civil trial slated for January 21. The order includes a $5 million civil penalty and prohibits Gemini from making false or misleading statements to the CFTC. This agreement arises from allegations related to misleading statements made during the firm's 2017 attempt to offer Bitcoin futures contracts. Additionally, the CFTC has numerous pending cases against various crypto firms over alleged violations of U.S. commodities laws, contributing to over $17 billion in penalties this fiscal year. Alluding to the incoming administration under President-elect Donald Trump, no CFTC commissioners have indicated plans to resign, unlike colleagues at the SEC.

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