ImportantJudge Denies Joint Motion by Gemini and CFTC to Vacate $5 Million Settlement Agreement

New York federal district judge Alvin Hellerstein has rejected a joint petition filed by the Commodity Futures Trading Commission (CFTC) and Gemini Trust Company. The petition sought to rescind an enforcement decision issued during the Biden administration, which ordered the cryptocurrency exchange controlled by billionaire Winklevoss twins to pay a $5 million fine. Gemini and the CFTC had argued in May that the settlement agreement reached in January 2025 "violates fundamental principles of fair law enforcement". The CFTC stated that an internal investigation uncovered improper litigation practices in the case, and that regulators would not have initiated this case during President Donald Trump's tenure, as Trump has adopted a more friendly stance toward the crypto industry compared to his predecessor.

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