CFTC stop 26-year no-denial ban, crypto firms get more leeway

Di U.S. CFTC don end dia 1998 "no-denial" policy for enforcement settlements, so now defendants fit publicly talk say dem no agree with CFTC allegations after dem don reach settlement. CFTC Chair Mike Selig talk say di old no-denial approach fit make people think say agency dey try "shield itself from criticism," and removing am go give CFTC more freedom to arrange settlements. CFTC talk say e no go enforce old no-denial terms retroactively, but e fit still require say person admit specific facts or liability depending on the case. Dis change follow similar move we SEC do, and e come as Washington dey push back against some Biden-era enforcement actions. For crypto traders, dis CFTC no-denial update no likely change token fundamentals directly, but e fit reduce the legal "risk premium" we people dey attach to future headlines about CFTC enforcement. New related context: dem report say CFTC try to cancel the $5 million settlement with Gemini, accusing political targeting. Former CFTC chair Tim Massad call undoing big settlement very unusual. All these signs show say settlement terms—and market reaction to dem—fit become more predictable, especially if future CFTC deals avoid wide no-denial wording.