#Gemini to Settle for $5 Million#

Gemini has agreed to pay $5 million to settle charges with the Commodity Futures Trading Commission (CFTC) that it misled regulators in 2017 about the ease with which it could manipulate the price of bitcoin futures contracts. The settlement, which was reached without admitting or denying wrongdoing, will prevent a trial that was scheduled to begin on January 21. The agreement also includes an injunction barring Gemini from making false or misleading statements to the CFTC in the future. The case is one of a series of enforcement actions the CFTC has taken against cryptocurrency exchanges in the absence of specific legislation governing the industry. Gemini also faces a separate charge from the Securities and Exchange Commission (SEC) alleging violations of securities laws. These cases highlight the growing scrutiny of the cryptocurrency industry by U.S. regulators and their concerns about transparency and compliance in the sector.