Gemini faces continued regulatory pressure as a U.S. court denies the exchange's bid to lift restrictions tied to its $5 million settlement, overriding CFTC arguments that the case was unfounded.
A U.S. judge has denied Gemini's attempt to vacate a $5 million settlement, effectively upholding the existing court-ordered restrictions on the exchange. Despite the CFTC's stance that the original case lacked merit, the judicial decision ensures that the regulatory constraints imposed by the 2025 settlement remain in full force.
Yes, the CFTC indicated that the case should not have been presented, yet the court still denied the motion to vacate.
The settlement has already been paid, but the associated court-ordered restrictions remain active.
A U.S. judge has rejected Gemini Trust Company's attempt to vacate a $5 million settlement agreement. Despite support from the CFTC suggesting the case lacked merit, the court ruled that the existing legal restrictions on the crypto exchange will remain in effect.
The court ruled that the settlement agreement and its associated restrictions remain binding, regardless of the CFTC's later assertion that the case lacked sufficient grounds.