CFTC Drops No-Deny Policy, Letting Companies Dispute Allegations Publicly
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The CFTC has rescinded a nearly 30-year no-deny settlement policy, allowing companies to resolve enforcement cases while publicly disputing the agency’s allegations. The agency also moved to vacate its $5 million Gemini settlement as politically targeted, a shift that eases regulatory risk for crypto exchanges, DeFi projects and token issuers and could improve regulatory clarity, fundraising and adoption in the crypto sector.
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- CFTC ends a 30-year rule requiring defendants to stay silent about allegations as a settlement condition.
- Companies can now settle CFTC cases while publicly disputing the agency’s version of events.
- CFTC moved to vacate its $5 million Gemini settlement, describing the original case as politically targeted.
The Commodity Futures Trading Commission has rescinded a policy that required defendants to agree not to publicly deny the agency’s allegations as a condition of settling enforcement cases. The rule had been in place for nearly 30 years.
From now on, companies can settle CFTC enforcement actions without being legally bound to silence about whether they actually did what the agency accused them of doing.
“For nearly three decades, the Commission has refused to settle cases unless the defendant promised not to publicly deny the Commission’s allegations,” said CF…
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