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The civil case between the US financial regulator and Gemini Trust Company was initially scheduled to go to trial before Donald Trump’s inauguration.
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A New York judge has delayed the start of a trial in a case between the United States Commodity Futures Trading Commission (CFTC) and the Gemini Trust Company, first filed in 2022.
In a Dec. 30 filing in the US District Court for the Southern District of New York, Judge Alvin Hellerstein pushed the start date of the CFTC v. Gemini civil trial from Jan. 13 to Jan. 21, adding that “no further adjournments will be granted.”
The delay moves the start date of the trial under a new presidential administration, which could affect the CFTC’s position on Gemini and other crypto firms.
Order moving CFTC v. Gemini trial start date. Source: PACER
Judge Hellerstein did not suggest why the trial date would be pushed by six days. The next session of the US Congress is scheduled to begin on Jan. 3, and President-elect Donald Trump’s inauguration will be on Jan. 20.
The civil case, filed against Gemini by the CFTC in June 2022, alleged the crypto firm provided false or misleading statements to the commission related to its 2017 bid to offer Bitcoin (BTC) futures contracts.
The CFTC said at the time that it was seeking “disgorgement of ill-gotten gains, civil monetary penalties, injunctions relating to registration and trading, and an injunction against further violations of the Commodity Exchange Act.”
Change of tone at the CFTC in 2025?
A panel of five CFTC commissioners, each of whom serves staggered five-year terms, could have additional authority over crypto policy if US lawmakers pass legislation clarifying the role of the regulator and Securities and Exchange Commission (SEC).
Trump has reportedly considered replacing CFTC Chair Rostin Behnam — expected to serve until June 2026 — with someone more favorable to the crypto industry.
Related: CFTC commissioner urges US crypto policy reforms
Like the SEC, the CFTC has filed several lawsuits against crypto firms for alleged violations of US commodities laws, including FTX, Celsius, and Binance. The commission reported in December that it had recovered more than $17 billion in monetary relief for the 2024 fiscal year, fueled mainly by enforcement actions against crypto companies.
Magazine: Will ETH outperform BTC in Jan? IRS DeFi broker rules, and more: Hodler’s Digest, Dec. 22 – 28
This article first appeared at Cointelegraph.com News
