Gemini Agrees to Pay $5M Fine to CFTC
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Gemini Trust Company has settled charges with the US Commodity Futures Trading Commission regarding certain statements made in connection with their bitcoin futures contract in 2017.
The company has agreed to pay a civil penalty of $5 million and comply with a permanent injunction as outlined in the court filing.
The CFTC’s allegations stated that Gemini had made false and misleading statements or omitted material facts when seeking to launch their bitcoin futures contract.
Gemini did not confirm or deny these findings, and their representatives did not provide a comment at the time of the court filing.
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