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Coinflip, the company involved in the CFTC decision, said the cease and desist order issued by the regulator was a fair settlement.

From the observation it looks the two parties reached to an amiable settlement as even Francisco Riordan, who represented himself in the case, said he felt the settlement with the CFTC was fair.

To be more specific, Derivabit was operating for the goal of trading or processing commodity options without first complying with the Regulations set forth by both the CEA and CFTC.

According to the CFTC press release, the bitcoin options platform does not comply with the Commodity Exchange Act and CFTC regulations by trading or processing swaps.