CFTC Wants To Reverse Course On Penalty Against Winklevoss Twins' Crypto Business

The CFTC is asking a judge to vacate a consent order against Gemini Trust Company over alleged misleading bitcoin statements.

Gemini also wants the judgment lifted, but the agency said the $5 million penalty already paid will not be refunded.

The deal was struck at the end of the Biden administration and now faces a possible reversal under the current administration.

The move could erase a recent crypto enforcement penalty and suggests a softer regulatory posture toward politically connected firms.