CFTC joins Gemini in seeking to vacate $5M penalty, citing enforcement misconduct
By
Dan Ennis
The bagel they save for the regulars. Don't skim, savour.
Summary
The Commodity Futures Trading Commission (CFTC) has joined Gemini in asking a judge to vacate a $5 million penalty against the cryptocurrency exchange. The CFTC's own investigation found that its Division of Enforcement used inappropriate tactics to bring the case and extract a settlement, including relying on a whistle-blower account that was not credible and concealing evidence from the commission.
Key quotes
· 3 pulledThe CFTC's Division of Enforcement 'resorted to inappropriate tactics in order to bring this case'
The enforcement division based its complaint largely on a whistle-blower account that was not credible
The division also concealed evidence from a CFTC
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