PANews reported on June 4th, citing Cointelegraph, that the U.S. Commodity Futures Trading Commission (CFTC) has repealed its "no denial" policy, which had been in place since 1998. This policy previously prohibited the CFTC from accepting settlements when defendants denied the allegations. CFTC Chairman Mike Selig stated that the policy was repealed because it could create the false impression that the commission was trying to shield itself from criticism. Selig pointed out that for nearly three decades, the CFTC had refused settlements unless the defendant promised not to publicly deny the allegations. This adjustment aligns the CFTC with government regulators such as the SEC, which repealed a similar policy in May.
Crypto companies that have faced regulatory enforcement have criticized the rule for restricting free speech. The CFTC stated that the policy change will allow for more flexible settlements, but may still require some defendants to admit certain facts or responsibilities. On the same day, the CFTC sought to withdraw from its $5 million settlement with cryptocurrency exchange Gemini, a case Selig described as politically motivated.



