Gemini has accused the CFTC of pursuing a seven-year enforcement campaign motivated by career advancement rather than market protection. The complaint alleges the case stemmed from fraudulent whistleblower claims by a former employee later found to have committed fraud. Despite a $5 million settlement, Gemini argues no market harm occurred and criticizes the CFTC’s persistence after key evidence discredited its witness. The exchange also highlights concerns over enforcement culture, as the lead prosecutor later touted the case as a career achievement. The filing comes as Gemini expands globally, including plans to go public and secure a Malta license for EU operations.
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EU Risks Falling Behind in Crypto Due to Regulatory Delays
Catriona Kellas, International Legal Lead of Digital Projects at Franklin Templeton, highlighted the EU’s regulatory stagnation in crypto during the DigiAssets 2025 Conference. She expressed concerns that the EU’s slow progress on updates to MiCA and discussions around MiCA 2 could leave the region behind more agile markets like the U.S. and Asia. Kellas noted a shift in tone from the European Commission, with officials now emphasizing ‘competition,’ signaling awareness of the need for faster regulatory adaptation. The EU’s DLT pilot regime, a regulatory sandbox for crypto firms, is receiving updates but may not be enough. Meanwhile, crypto exchanges like Coinbase and Gemini are securing EU licenses, leveraging the ‘passporting’ system, though regulators remain cautious. Kellas stressed that governments are pushing regulators to adopt more progressive frameworks as crypto adoption grows globally.
read moreGemini Accuses CFTC of False Whistleblower Report in 2022 Lawsuit
Gemini Trust has filed a formal complaint with the CFTC Inspector General, alleging that the agency’s enforcement division relied on a dubious whistleblower report to sue the crypto exchange in 2022. The exchange claims the CFTC’s lawyers selectively applied the Commodity Exchange Act to bring false charges, motivated by career advancement rather than regulatory integrity. This latest development adds to the ongoing tension between crypto firms and financial regulators over enforcement actions.
read moreGemini & Coinbase Near EU Crypto Licenses Under MiCA
Two major cryptocurrency exchanges, Gemini and Coinbase, are nearing approval to operate across the European Union under the Markets in Crypto-Assets (MiCA) framework. Gemini is finalizing its licensing process through Malta’s financial regulator, while Coinbase is expected to receive its MiCA license via Luxembourg. The MiCA regime, effective since June 2024, allows any EU member state to issue a Crypto-Asset Service Provider (CASP) license, enabling companies to operate across all 27 EU countries without individual approvals. The framework aims to standardize crypto regulations, enhance investor protection, and ensure financial stability. It imposes strict disclosure, governance, and compliance standards, with additional requirements for stablecoin issuers, such as maintaining reserves with European financial institutions. The expected approvals have drawn scrutiny from regulators, including the European Securities and Markets Authority (ESMA), amid concerns about enforcement standards in smaller states. Meanwhile, other exchanges like Bybit and Binance have already adapted to MiCA requirements.
read moreEU Risks Becoming Crypto ‘Flyover Zone’ as US, APAC Lead
Franklin Templeton’s Catriona Kellas warns that the EU risks becoming a ‘flyover zone’ in crypto as the U.S. and APAC regions adopt more flexible regulatory approaches. Despite MiCA initially positioning Europe as a leader, slow legislative progress and rigid frameworks threaten its competitiveness. Kellas highlights ‘more than whispers’ about ‘MiCA 2’ and notes the EU’s DLT pilot regime as steps toward adaptation. Meanwhile, crypto exchanges like Coinbase and Gemini seek EU licenses, though regulators voice concerns over rapid ‘passporting’ approvals. Kellas anticipates a global shift toward less risk-averse crypto regulation, driven by institutional demand and governmental pressure.
read moreGemini, Coinbase Near EU Licenses Amid Regulatory Clash
Crypto exchanges Coinbase and Gemini are close to obtaining regulatory approvals to operate across the EU under the Markets in Crypto-Assets (MiCA) regulation, according to Reuters. Gemini is nearing approval from Malta, which has already licensed OKX and Crypto.com, while Coinbase is expected to receive a license from Luxembourg. The fast-tracked approvals have intensified debates among EU regulators, with concerns over inconsistent enforcement and a potential ‘race to the bottom’ in standards. The European Securities and Markets Authority (ESMA) is reviewing Malta’s procedures, as the EU grapples with balancing investor protection with its ambition to become a global crypto hub. The outcome could shape the future of crypto regulation in Europe, especially as the US moves toward deregulation.
read moreGemini, Coinbase Set for EU-Wide Crypto Licenses
Gemini and Coinbase are nearing approval for EU-wide crypto licenses under MiCA, leveraging ‘passporting’ to operate across all 27 member states. Malta and Luxembourg are fast-tracking approvals, prompting concerns from EU regulators about inconsistent standards and diluted consumer protections. ESMA is scrutinizing Malta’s licensing process, while industry leaders like ICONOMI’s Peter Curk warn of a ‘race to the bottom’ if regulatory cohesion falters. The debate highlights the tension between national competition and harmonized oversight in the EU’s digital finance landscape.
read moreRipple & SEC Seek to Lift XRP Injunction: 70% Approval Chance
Ripple and the SEC have filed a joint motion to lift the injunction on XRP sales, with attorney John Deaton predicting a 70% approval likelihood by Judge Torres. The SEC’s 2020 lawsuit accused Ripple of selling unregistered securities, but a proposed settlement includes a $50 million SEC payment and $75 million returned to Ripple. Deaton criticized the SEC’s aggressive enforcement, citing cases like Debt Box, where the agency admitted to misleading claims. He also highlighted Ripple’s competitive disadvantage due to the legal uncertainty, as XRP trades at $2.16, up 1.64% in 24 hours.
read moreInstitutions Now Hold 30.9% of Bitcoin Supply
Centralized Bitcoin treasuries, including governments, ETFs, and corporations, now hold 30.9% of the total circulating supply—6.1 million BTC—marking a 924% increase over the past decade. Three dominant entities control 65-90% of institutional holdings, while private companies show more distributed ownership. Custody has shifted from exchanges to ETFs and DeFi, with sovereign reserves (like the US’s 200,000 BTC) playing a unique role. Despite stable total holdings, these entities drive price volatility, with monthly flows swinging by $10B. Governments, including the US and China, amass BTC via seizures, creating dormant but market-moving reserves.
read moreCrypto IPOs Surge as Market Matures: Circle, Gemini Lead
The crypto market is witnessing a surge in IPOs, driven by regulatory clarity and growing institutional adoption. Tracy Jin, COO of MEXC, emphasizes that the sector has evolved from its scrappy origins to a structured ecosystem with audited financials and scalable revenue models. Circle’s recent $1.1 billion public debut, which saw a 167% first-day gain, underscores this shift. Crypto exchanges now mirror traditional financial institutions, complete with compliance teams and long-term capital strategies, marking a new era of market maturity and investor confidence.
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