Svmuu reported that the U.S. Commodity Futures Trading Commission (CFTC) has abolished its "no-admit, no-deny" policy implemented since 1998. This policy previously prohibited the CFTC from accepting litigation settlements when defendants denied the allegations. CFTC Chairman Mike Selig stated that the policy was abolished because it could create the erroneous impression that the commission was trying to shield itself from criticism. Selig noted that for nearly three decades, the CFTC had refused settlements unless defendants pledged not to publicly deny the allegations. This adjustment aligns the CFTC with other government regulatory agencies, such as the SEC, which abolished a similar policy in May. Crypto companies that have faced regulatory enforcement criticized the rule for restricting free speech. The CFTC stated that settlements will be more flexible following the policy change, but it may still require some defendants to admit certain facts or responsibilities. On the same day, the CFTC previously sought to withdraw a $5 million settlement with crypto exchange Gemini, with Selig stating that the case was politically targeted.