CFTC Trial Delayed to Jan. 21 Amid Leadership Shift
The post CFTC Trial Delayed to Jan. 21 Amid Leadership Shift appeared on BitcoinEthereumNews.com.
In the latest development, the much-anticipated civil trial between the United States Commodity Futures Trading Commission (CFTC) and Gemini Trust Company has been postponed to January 21, 2025, after the last-minute order from Judge Alvin Hellerstein of the US District Court for the Southern District of New York. Originally set for January 13, the trial’s six-day delay coincides with a pivotal moment in U.S. politics, as President-elect Donald Trump is set to be inaugurated on January 20. [FILING] New York judge delays CFTC v. Gemini trial to January 21, with no further adjournments — BecauseBitcoin.com (@BecauseBitcoin) December 30, 2024 Will Gemini Get Help from Trump’s New Administration? The case first filed in June 2022, accuses Gemini of providing false or misleading information to the CFTC regarding its 2017 efforts to launch Bitcoin futures contracts. The regulator is seeking disgorgement of alleged ill-gotten gains, civil monetary penalties, and injunctions against future violations of the Commodity Exchange Act. The timing of the delay has sparked discussion about its impacts on the crypto market. With a presidential administration poised to take office, the shift in leadership may influence regulatory attitudes toward the cryptocurrency industry. While Judge Hellerstein did not offer an explanation for the rescheduling, observers note that the trial’s proximity to the inauguration could signify strategic considerations. The CFTC, under the leadership of Chair Rostin Behnam, has been at the forefront of crypto enforcement actions, having recovered $17 billion in fiscal year 2024 through penalties. However, Trump’s new interest in replacing Behnam with a crypto-friendly chair raises questions about the commission’s future direction. Also Read: Bitwise Files for Bitcoin Standard Corporations ETF with the SEC Source: https://www.cryptonewsz.com/gemini-cftc-trial-delayed-to-jan-21-trump/
Filed under: News - @ December 30, 2024 9:26 pm