The Commodity Futures Trading Commission has scrapped a nearly three-decade-old policy that prevented defendants from publicly denying allegations after settling enforcement cases.
Effective June 3, the agency formally repealed its 'neither-admit-nor-deny' rule, which had been in place since 1998. The change allows companies and individuals to settle with the CFTC while simultaneously stating they did nothing wrong.
CFTC Chairman Michael S. Selig said the move aligns the agency with broader government practices, noting the SEC rescinded a similar rule just two weeks earlier.
The policy change applies retroactively, meaning existing settlement terms that included the no-deny requirement will no longer be enforced.
The decision comes as the CFTC’s enforcement footprint in digital assets grows. Uniswap Labs settled with the agency for $175,000 in 2024, and Gemini paid $5 million earlier this year. Under the old rules, those firms could not deny the allegations; under the new rules, future defendants can.
Experts say the change will likely accelerate settlements, reduce litigation friction, and create a more uniform regulatory environment for firms dealing with both the CFTC and the SEC.