NEW YORK (Reuters) -Gemini Trust Company has agreed to pay a $5 million civil penalty to resolve charges by the U.S. Commodity Futures Trading Commission related to statements it made in connection with its contract. of bitcoin futures in 2017, a court filing showed Monday.
Gemini also agreed to a permanent injunction, according to the consent order filed in federal court in New York.
The CFTC sued Gemini in 2022 for making false and misleading statements of material facts or omitting such facts to the CFTC in 2017 in connection with a bitcoin futures contract it intended to launch.
According to the order, Gemini neither admitted nor denied the CFTC’s findings. A company spokesperson did not immediately respond to a request for comment.
