NEW YORK (Reuters) – Gemini Trust Company has agreed to pay a $5 million civil penalty to settle charges by the U.S. Commodity Futures Trading Commission related to statements it made about its bitcoin futures contract in 2017, a court filing showed on Monday.
Gemini also agreed to a permanent injunction, according to a consent order filed in New York federal court.
In 2022, the CFTC sued Gemini 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 sought to launch.
According to the order, Gemini neither admitted nor denied the CFTC’s findings. A company spokesman did not immediately respond to a request for comment.
