A federal judge in New York has delayed the trial between the Commodity Futures Trading Commission (CFTC) and Gemini Trust Company, which was originally set to begin on January 13.
The new start date for the trial is January 21, with the judge emphasizing that there will be no further delays. This delay pushes the trial into the new presidential administration, with President-elect Donald Trump taking office on January 20.
This could potentially impact the CFTC’s approach towards Gemini and other cryptocurrency companies, as administration priorities may shift with new leadership. The reasons for the date change were not provided by the judge.
The lawsuit, which was filed in June 2022, alleges that Gemini provided false or misleading information to the CFTC in regards to its 2017 attempt to offer Bitcoin futures contracts. The CFTC is seeking financial penalties and other measures to prevent future violations of the Commodity Exchange Act.
