Court Delays Trial Between CFTC and Gemini
The lawsuit between the United States Commodity Futures Trading Commission (CFTC) and Gemini Trust Company, originally filed in 2022, has been postponed by a New York judge.
Instead of starting on January 13, the civil trial will now begin on January 21, with no possibility for further delay. This means the trial will now take place under a new presidential administration, which could have implications for the CFTC’s stance on crypto companies like Gemini.
It is unclear why the trial date was pushed back by six days, but the delay will now take place during a session of the US Congress and will end before President-elect Donald Trump’s inauguration on January 20.
The CFTC initially brought the case against Gemini in June 2022, alleging that the company made false or misleading statements to the commission in regards to their attempt to offer Bitcoin futures contracts in 2017.
The CFTC is seeking compensation for gains that were obtained illegally, as well as civil penalties and an injunction against further violations of the Commodity Exchange Act.
