CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
crypto.news 2025-01-06 20:11:10

Gemini agrees to pay $5m to settle CFTC charges

Gemini, the crypto exchange founded by the Winklevoss twins, will pay $5 million in penalties to settle with the Commodity Futures Trading Commission. The company agreed to a “proposed consent order” signed by the CFTC on Monday, according to Bloomberg . As part of the settlement, Gemini will pay a $5 million fine for allegedly providing misleading information to the regulator during its efforts to launch the first regulated Bitcoin ( BTC ) futures contract in the United States. Gemini agreed to the settlement without admitting or denying the allegations filed by the CFTC, a case that was set to go to trial beginning January 21, 2025. You might also like: FDIC ‘magically’ releases two more pages of documents to Coinbase CFTC filed its lawsuit against Gemini in June 2022, with its main complaint being that the Winklevoss twins-led exchange had misled the regulator. In particular, the agency noted “false or misleading statements of material facts” that the exchange made between July 2017 and December 2017. As crypto.news highlighted at the time, the regulator’s allegations related to Gemini’s self-certification of its proposed BTC futures product. The CFTC complaint noted that Gemini personnel either “knew or reasonably should have known that such statements were false or misleading.” However, the exchange refuted the regulator’s claims, noting there was no manipulation of Bitcoin price or harm to investors. But in its initial complaint, the CFTC asked the court for an order on disgorgement of ill-gotten gains, enforcement of civil monetary penalties, and an injunction against any further violations of the Commodity Exchange Act. Gemini has also had a legal tussle with the U.S. Securities and Exchange Commission over its Earn product . The settlement with the CFTC is one of many companies in the crypto sector have agreed with the U.S. regulators. Some of the top headlines have included Binance and Terraform Labs . Read more: Do Kwon pleads not guilty in US court to fraud charges

Feragatnameyi okuyun : Burada sunulan tüm içerikler web sitemiz, köprülü siteler, ilgili uygulamalar, forumlar, bloglar, sosyal medya hesapları ve diğer platformlar (“Site”), sadece üçüncü taraf kaynaklardan temin edilen genel bilgileriniz içindir. İçeriğimizle ilgili olarak, doğruluk ve güncellenmişlik dahil ancak bunlarla sınırlı olmamak üzere, hiçbir şekilde hiçbir garanti vermemekteyiz. Sağladığımız içeriğin hiçbir kısmı, herhangi bir amaç için özel bir güvene yönelik mali tavsiye, hukuki danışmanlık veya başka herhangi bir tavsiye formunu oluşturmaz. İçeriğimize herhangi bir kullanım veya güven, yalnızca kendi risk ve takdir yetkinizdedir. İçeriğinizi incelemeden önce kendi araştırmanızı yürütmeli, incelemeli, analiz etmeli ve doğrulamalısınız. Ticaret büyük kayıplara yol açabilecek yüksek riskli bir faaliyettir, bu nedenle herhangi bir karar vermeden önce mali danışmanınıza danışın. Sitemizde hiçbir içerik bir teklif veya teklif anlamına gelmez