Gemini, CFTC lose bid to cancel $5 million penalty

A U.S. federal judge has rejected an October 15 request by cryptocurrency exchange Gemini Trust and the Commodity Futures Trading Commission (CFTC) to cancel their $5 million settlement, leaving the previously paid penalty and permanent injunction in place. A federal judge rejected Gemini and CFTC's joint request to overturn their $5 million settlement agreement. Gemini paid the $5 million penalty before both parties requested relief from the existing judgment. Judge Alvin Hellerstein ruled that alleged enforcement misconduct did not justify overturning Gemini's previous settlement agreement. The CFTC concluded its original Gemini lawsuit would not meet the agency's current enforcement standards.

Source: crypto.news