CFTC follows SEC in scrapping ‘no-deny’ policy for settlements
Summary
The CFTC rescinded its long-standing “no-deny” policy, which had barred settlement defendants from publicly denying the agency’s allegations. The agency said the 1998 rule could have suggested it was trying to suppress criticism, and the change aligns it with the SEC, which dropped a similar policy in May. CFTC Chair Mike Selig said the move gives the agency more flexibility in resolving enforcement cases. Existing no-deny provisions will not be enforced, though the CFTC may still require some admissions of facts or liability in settlements. The change comes amid a broader rollback of crypto enforcement actions under the Trump administration, including an effort to vacate the CFTC’s $5 million settlement with Gemini.
