US courts deny Gemini settlement request
The American court in Manhattan rejected the request of the U.S. Commodity Futures Trading Commission (CFTC) and the cryptocurrency exchange "Gemini" to cancel a $5 million settlement reached last year. The judge confirmed that both parties did not meet the legal requirements to annul the settlement, which was agreed upon after a lawsuit was filed against "Gemini" in 2022, accusing the platform of providing false information during the regulator's review of the Bitcoin futures product. "Gemini" had agreed to pay the fine and was informed that it would not recover the amount if the judgment was canceled. Meanwhile, the judge considered the settlement necessary and connected to an ongoing case that has lasted for more than three years.
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