A U.S. federal judge has rejected a joint request from Gemini and the Commodity Futures Trading Commission to undo the crypto exchange’s $5 million settlement, according to CoinDesk’s October 16 report.
The report describes a Thursday ruling by Judge Alvin Hellerstein. Gemini had already paid the penalty associated with its January 2025 settlement.
A changed regulatory position was insufficient
According to the report, the judge found that the CFTC’s reversal of its position did not justify reopening the agreement. He also rejected Gemini’s claim that it had been coerced into settling.
The decision leaves the settlement’s court order and restrictions in place. It is not a newly imposed $5 million penalty.
What the ruling establishes
The outcome concerns this settlement and the request to overturn it. A regulator and a company agreeing to seek relief does not mean a court has granted that relief.
This article summarizes published reporting; the linked report also provides the underlying court order.
For educational purposes. Views should be assessed against their evidence and publication date.
