CFTC says it shouldn’t have sued Gemini, joins motion to vacate prior judgment
The Block
The CFTC has joined Gemini in a motion to vacate a 2025 consent order, admitting the original lawsuit against the crypto exchange was improper.Summary
The Commodity Futures Trading Commission (CFTC) has joined Gemini in a legal motion to vacate a January 2025 judgment and permanent injunction against the crypto exchange. Following an internal review, the agency admitted that the original complaint should not have been filed, citing questionable evidence, reliance on an uncredible whistleblower, and improper litigation tactics used by previous staff to gain settlement leverage. The CFTC acknowledged that Gemini was denied a fair opportunity to defend itself, marking a significant shift in the agency's enforcement approach under current leadership.
(Source：The Block)