Summary
- It was reported that Gemini Trust has agreed to pay $5 million to resolve the lawsuit with the CFTC.
- The CFTC claimed that Gemini made false and misleading statements to launch Bitcoin futures contracts.
- Through this settlement, Gemini will be able to avoid the scheduled trial.
According to the cryptocurrency specialist media WuBlockchain on the 6th (local time), Gemini Trust has agreed to pay $5 million to resolve a lawsuit with the U.S. Commodity Futures Trading Commission (CFTC).
The CFTC had filed a lawsuit claiming that Gemini made false and misleading statements to launch the first regulated Bitcoin (BTC) futures contract in the U.S.
This settlement was disclosed on the 6th (local time) through documents jointly submitted to the court by Gemini and the CFTC. As a result, Gemini will be able to avoid the trial that was scheduled to begin on the 21st.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
