Regulators admitting they were wrong doesn’t mean the $5 million can be refunded. On October 15, 2026, Judge Alvin Hellerstein refused to vacate the settlement between Gemini and the CFTC. The fine already paid and the permanent injunction remain in effect. The CFTC had said the original lawsuit should never have been brought.
The dispute concerned a proposed Bitcoin futures contract. The CFTC sued in June 2022, alleging that Gemini misled regulators about trading safeguards, customer financing, special rates, and activities that could affect the contract’s pricing. The case settled in January 2025, with Gemini neither admitting nor denying the allegations.
In May this year, both sides jointly sought to vacate the settlement, citing concerns about the whistleblower’s credibility, the evidence, and enforcement practices. The judge said these circumstances existed before the settlement, and that a shift in enforcement priorities was not enough to vacate a binding court order. The CFTC retains its enforcement discretion.
I initially thought that the regulator backing down would mean the settlement was undone. I’ve changed my view. $BTC is currently at 81420.06 USDT, down 0.89% over 24 hours; the price hasn’t plunged on this news. The question now is whether futures compliance will come back under scrutiny while the permanent injunction remains in place—not whether the $5 million will be refunded.
#加密监管 #期货
The dispute concerned a proposed Bitcoin futures contract. The CFTC sued in June 2022, alleging that Gemini misled regulators about trading safeguards, customer financing, special rates, and activities that could affect the contract’s pricing. The case settled in January 2025, with Gemini neither admitting nor denying the allegations.
In May this year, both sides jointly sought to vacate the settlement, citing concerns about the whistleblower’s credibility, the evidence, and enforcement practices. The judge said these circumstances existed before the settlement, and that a shift in enforcement priorities was not enough to vacate a binding court order. The CFTC retains its enforcement discretion.
I initially thought that the regulator backing down would mean the settlement was undone. I’ve changed my view. $BTC is currently at 81420.06 USDT, down 0.89% over 24 hours; the price hasn’t plunged on this news. The question now is whether futures compliance will come back under scrutiny while the permanent injunction remains in place—not whether the $5 million will be refunded.
#加密监管 #期货