The CFTC’s lawsuit against FTX is taking advantage of leeway granted in legislation passed over a decade ago after the 2008-09 financial crisis
In less than 24 hours, FTX founder Sam Bankman-Fried was arrested, charged with eight counts of fraud and sued by the Securities and Exchange Commission and the Commodity Futures Trading Commission. WSJ explains how the day unfolded. Photo: Dante Carrer/ReutersFTX was one of the largest overseas crypto exchanges, based on a Caribbean island with a friendly regulatory regime, and arguably beyond the reach of U.S.
rules that govern how trading firms deal with investors and consumers.show how U.S. regulators have found a way to police global crypto conduct they don’t closely regulate. The Commodity Futures Trading Commission alleged, for instance, that Bahamas-based FTX affected the price of commodities sold in the U.S. That gave the CFTC authority to file a civil fraud lawsuit against FTX founder Sam Bankman-Fried and his companies.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
FTX US 'Was Not Independent' of Parent Company, New FTX CEO Will Say in House TestimonyFTX US “was not independent” of its parent company, new FTX CEO John Ray III plans to say in his testimony before the House Financial Services Committee on Tuesday. nikhileshde reports
Weiterlesen »
Local tech layoffs nearing levels of 2008 recessionNew reports are signaling that the number of tech company layoffs this year is nearing levels from the Great Recession circa 2008-2009.
Weiterlesen »
South Carolina tops women’s AP Top 25, Utah has highest ranking since 2008The Utes are up to No. 13 after beating BYU over the weekend.
Weiterlesen »