Post ContentRead MoreFeedzy
The Commodity Futures Trading Commission (CFTC) sued Gemini Trust Company LLC Thursday on allegations the crypto exchange’s staff misled the federal regulator during Gemini’s 2017 effort to launch trading of what would have been a landmark bitcoin futures contract.
In a 28 page civil suit, the swaps regular accused Gemini, which is owned by the Winklevoss, of providing misleading answers about how easily a bitcoin futures contract’s price could be manipulated during summertime meetings in 2017. It said Gemini’s “false or misleading statements and omissions” happened in in-person meetings.
It alleged Gemini of violating the Commodity Exchange Act and various regulations.
The suit does not specify if the effort was tied to Gemini’s partnership with Cboe to launch the first bitcoin futures contracts at the time.
A spokesperson for the CFTC did not immediately return a request for comment. Gemini did not immediately comment.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Weiss Crypto says Bitcoin may be approaching one of its strongest buying opportunities in years,…
Bitcoin price started a fresh decline below the $72,500 zone. BTC is consolidating and might…
Bitcoin’s recovery attempts are still being judged against a larger structure that has controlled price…
Bitcoin Magazine CME Group Goes Live With 24/7 Crypto Futures and Options, Launches Bitcoin Volatility…
Bitcoin is still trading above $60,000, but there are questions as to whether that area…
Michael Saylor's Strategy has evolved into a far more complex bitcoin-finance machine since it last…