Judge Keeps $5 Million Gemini Penalty in Place Despite Joint Request

TL;DR A federal judge in New York rejected a joint request by Gemini and the CFTC to overturn a ruling that imposed a $5 million penalty on the exchange. The CFTC argued that it would not have filed the original lawsuit against Gemini under its current enforcement priorities. The court found that neither party had presented sufficient grounds to modify a judgment voluntarily accepted before trial. A U.S. federal judge rejected a joint request by Gemini and the Commodity Futures Trading Commission (CFTC) to overturn a ruling that required the exchange to pay a $5 million penalty. Judge Alvin Hellerstein of the Southern District of New York determined that the arguments presented by both parties did not justify reopening the case , which was resolved through a court-approved settlement in…

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Economy.