Although this crypto exchange has paid a settlement fee, a court order and the restrictive measures in its 2025 settlement agreement will not be lifted, despite CFTC indicating that this case should not have been filed in the first place.

A federal judge rejected a joint request filed by Gemini and the Commodity Futures Trading Commission (CFTC) of the United States to overturn a $5 million settlement agreement with this crypto exchange.

The judge ruled that CFTC's change of stance was not sufficient to overturn the agreement reached in January 2025, and also dismissed Gemini's claim that regulatory authorities had coerced them into reaching a settlement.

A federal judge in the United States rejected an unusual joint request filed by Gemini and the Commodity Futures Trading Commission (CFTC), which sought to overturn a $5 million settlement agreement with this crypto exchange, despite regulators stating that this case should not have been brought at all.

Federal Judge Alvin Hellerstein ( Alvin Hellerstein ) ruled on Thursday that the decision by CFTC to change its position in the case was not sufficient to revoke the settlement reached by Gemini in January 2025. He also dismissed the claim by Gemini that it agreed to the settlement under duress from regulatory authorities.

Gemini was founded by Cameron and Tyler Winklevoss, and they have already paid out 5 million US dollars. The ruling also upheld a court order prohibiting the exchange from misleading CFTC or publicly denying the findings in the settlement agreement.

This decision is of great significance, as it indicates that Washington, D.C.'s more favorable attitude towards crypto regulation does not have retroactive effect. Even if regulatory authorities and companies agree to revoke it, previous court rulings will not automatically become invalid.

Gemini can still operate in the United States and launch new products, but this ruling means that as it shifts its business to the U.S. market, it must still comply with the terms of the 2025 settlement agreement.

CFTC sued Gemini in 2023, accusing it of misleading regulatory authorities during the 2017 review of a proposed Bitcoin futures contract. Gemini did not respond to requests for comment on Thursday. The companies reached a settlement three weeks before the trial without admitting or denying the allegations.

The judge wrote: “The Gemini lawsuit lasted for about three years, and then, despite the aforementioned facts, a calculated decision was made not long before the trial to opt for settlement.”

Earlier this year, Gemini announced plans to withdraw from the UK, the EU, and Australia, and to cut 25% of its workforce in order to redirect resources towards the US market and forecast markets. The company stated that it will continue to operate in Singapore.