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Gemini vs. CFTC: New York Court Reschedules Civil Case to January 2025
In a recent development, the New York court has rescheduled the civil case between Gemini Trust and the US Commodity Futures Trading Commission (CFTC) to January 2025.
The case, which was initially set to begin earlier this year, has been adjourned until next year. In the interim, the parties involved are expected to comply with certain conditions outlined by the court.
It is worth noting that Gemini Trust has been embroiled in several controversies over the past few years, including allegations of fraud and mismanagement. The recent rescheduling of the case suggests that the court may be taking a closer look at these allegations.
However, there are also concerns that the delay could negatively impact investors who have already suffered significant losses due to Gemini’s alleged wrongdoing.
The CFTC had accused Gemini Trust of issuing misleading material facts in connection with its Bitcoin futures product. The regulator sought to compel Gemini to give up the gains and impose civil monetary penalties.
Meanwhile, it is unclear how the change in administration could affect the outcome of this case.
Source: coinpedia.org
