Gemini Trust has agreed to pay 5 million USD to settle a lawsuit filed by the Commodity Futures Trading Commission. This lawsuit accused the company of misleading regulators in their efforts to launch a U.S.-regulated Bitcoin futures contract. This settlement resolves the case without an admission of liability from Gemini Trust.

The CFTC accused Gemini of providing misleading information regarding strategies to prevent Bitcoin price manipulation. The case formed part of a wider trend of increasing regulatory scrutiny on the cryptocurrency industry during JOE Biden’s presidency. This move reflects heightened regulatory vigilance towards digital asset companies under the current administration.

Speculation suggests that the second term of Donald Trump could bring a more favorable regulatory environment for crypto-related businesses. Advocates believe a Trump presidency might lead to less stringent oversight. Ripple CEO Brad Garlinghouse noted potential positive impacts on business strategy, with significant shifts in U.S. Job postings under the expectation of a friendlier environment.