CFTC sues Gemini claiming the crypto exchange lied in futures contract evalua...
The agency says the exchange gave false information in person and in documents in its 2017 bid to be among the first to offer Bitcoin futures contracts. The United States Commodity Futures Trading Commission (CFTC) filed suit against Gemini Trust Co. in the U.S. Southern District Court of New York on Thursday. The CFTC claimed in the civil suit that Gemini made false or misleading statements to the CFTC in 2017 during in-person meetings and in documents, violating the Commodity Exchange Act and other regulations. The agency was making an evaluation of the potential self-certification of a....
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Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This Week Fed money printer goes into reverse: What does it mean for crypto?Over the last two years or so, the United States Federal Reserve has flooded the financial system with excess liquidity benefiting stocks, crypto and other markets as well. Now, the Fed is going in the opposite direction in order to combat....
The lawsuit against Gemini is not about an exchange-traded fund, it’s about how a particular Bitcoin futures contract is being represented. On June 2, 2022, the United States Commodity Futures Trading Commission (CFTC) initiated an action against Gemini, the crypto exchange founded by billionaire twins Tyler and Cameron Winklevoss. Among other things, the complaint alleges that Gemini made a number of false and misleading statements to the CFTC in connection with the potential self-certification of a Bitcoin futures contract, the prices for which were to be settled daily by an auction (the....
Gemini, a cryptocurrency exchange, is being sued by the CFTC on allegations of false statements made to obtain certification for bitcoin futures contracts.
Despite the shift, Cameron and Tyler Winklevoss continue to run the cryptocurrency exchange's global operations. Cameron Winklevoss, a co-founder of cryptocurrency exchange Gemini, has stepped down from the European company board of directors, according to a Companies House filing from Oct. 12.As indicated in a statement sent to the local press, Cameron continues to lead Gemini's global operations alongside his twin brother Tyler Winklevoss:“We can confirm this change was filed with Companies House and brings local leadership onto the board of directors to reflect the growth of Gemini's....
Bitcoin is now a commodity according to the Commodity Futures Trading Commission (CFTC). On Thursday the organization publicly stated it had settled with a Bitcoin exchange for trading option contracts after an enforcement case against a Bitcoin operator. "In this order, the CFTC for the first time finds that Bitcoin and other virtual currencies are properly defined as commodities," according to the press release. CFTC now has authority to oversee cryptocurrency futures and options. Bitcoin derivatives and futures platforms must register as a swap execution facility or designated contract....