Gemini Settles with CFTC for $5 Million Over Misleading Bitcoin Futures Statements

As part of the settlement, an injunction has been imposed, barring Gemini from making false or misleading statements to the commission in the future. This type of injunction is common in federal securities and commodities regulatory settlements or lawsuits.

Crypto exchange Gemini is also dealing with another case from the Securities and Exchange Commission (SEC). A judge ruled in March that the SEC could pursue a lawsuit against the exchange for allegedly violating securities laws.

With no specific legislation on crypto, U.S. regulators have sued various crypto exchanges, including Coinbase and Binance, for securities law violations. Many observers believe President-elect Donald Trump's pro-crypto stance could lead to less confrontational regulation of the industry and a shift away from “regulation by enforcement.”