The US Commodity Futures Trading Commission has agreed to a proposed consent order with Gemini Trust Company, pending approval by a judge, as reported by Reuters on Monday.
This may allow the firm to avoid a civil lawsuit against allegations of false or misleading statements related to its 2017 BTC futures contracts offering.
If approved, Gemini would pay a $5 million civil monetary penalty and be prohibited from making false statements to the CFTC.
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The filing revealed the crypto firm had entered into bespoke fee arrangements with certain market participants, potentially promoting trading in the Gemini Trust Auction.
However, a federal judge has delayed the civil trial start date until January 21 with no further extensions allowed.