Regulators sue Winklevoss crypto firm over futures contracts

June 2, 2022
Posted by: AliensFaith
Category: OBJECTIVE PRESS

Bitcoin Conference Draws Cryptocurrency Fans To Miami

Tyler and Cameron Winklevoss at the Bitcoin 2021 Convention in Miami. | Photo by Joe Raedle / Getty Images

On Thursday, the Commodity Futures Trading Commission (CFTC) filed suit against Gemini Trust Company, a cryptocurrency business founded by Tyler and Cameron Winklevoss. The commission alleges that Gemini misrepresented key details of its exchange and futures contracts in meetings with regulators in 2017.

As punishment, the commission is calling for civil monetary penalties and an order blocking Gemini and its affiliates from trading commodities or soliciting investments.

The complaint puts particular focus on Gemini’s Bitcoin Futures Contract, one of the first financial instruments allowing investors to trade on expectations of a cryptocurrency’s future value. Because the futures…

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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Regulators sue Winklevoss crypto firm over futures contracts

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