Gemini Faces Delayed Trial in Ongoing CFTC Legal Battle
The highly anticipated trial between the Commodity Futures Trading Commission (CFTC) and Gemini Trust Company has been rescheduled, moving from January 13 to January 21, 2025.
Judge Alvin Hellerstein, presiding over the case in New York, stated that no further delays would be allowed but did not provide a reason for the six-day extension.
The trial’s new date coincides with the transition to a new presidential administration, potentially influencing the regulatory approach toward crypto firms.
This legal battle, initiated in 2022, accuses Gemini of providing false information in its 2017 application to list Bitcoin futures contracts. The CFTC is seeking penalties, including fines and measures to prevent future violations.
READ MORE: MoonPay Secures MiCA Approval, Paving the Way for European Crypto Expansion
Meanwhile, the agency’s future direction could shift as President-elect Donald Trump is rumored to be considering leadership changes at the CFTC, aiming to bring in crypto-friendly policies.
With the commission already recovering $17 billion in 2024 enforcement actions, the trial’s outcome may set a precedent for crypto regulation moving forward.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
