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Gemini fined $5 million for providing false or misleading information to CFTC
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2025-01-15 13:02 2,335
Golden Finance reported that according to an announcement from the U.S. Commodity Futures Trading Commission (CFTC), the Federal District Court for the Southern District of New York issued a consent order against Gemini Trust Company LLC, ruling that it violated the Commodity Exchange Act (CEA) and provided false or misleading information. Gemini was ordered to pay a $5 million civil penalty and be subject to a permanent injunction. The case involves that between July and December 2017, in order to support the self-certification of Bitcoin futures contracts, Gemini submitted false or undisclosed key information to the CFTC, including "prepayment requirements", "self-trading precautions" and "handling fee refunds" As well as trading volume and liquidity data, etc.
Keywords: Bitcoin
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