Winklevoss-twins-owned Gemini is at the firing line of the US regulator. The Commodity Futures Trading Commission (CFTC) has sued the crypto exchange for allegedly misleading the regulator when gaining approval for a Bitcoin futures product in 2017.
According to the CFTC, which filed a complaint in a New York court, Gemini Trust Company, LLC (Gemini) provided “false or misleading statements of material facts or omitting to state material facts” to the regulator.
Gemini’s Bitcoin future, which it launched in December 2017, proposed a price-settlement technique determined by an auction on the final day before expiration. The exchange, directly and through its designated contract market (DCM), allegedly summited false or misleading Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology. In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Bitcoin has now a global brand because of how everyone recognizes it even if they don’t really know what it is.Added to that, Bitcoin also has the largest market cap and liquidity pool which is why many find it to be the most attractive coin out there. Bitcoin summed up· Bitcoin is a decentralized digital currency operating with no type of central control nor oversight from banks or governments, relying solely on its cryptography and peer-to-peer software.· A public ledger keeps track of all transactions by recording them. Copies are then held around the world on servers called nodes (which…
