DoJ says lack of US crypto laws no bar to FTX-SBF charges
SBF's counsel had argued that FTX was not located in the United States, and as SBF did follow regulatory obligations concerning FTX.US, charges related to FTX international shouldn’t apply. The United States Department of Justice filed a court motion on Oct. 4 claiming the lack of crypto regulations in the U.S. is no bar to the criminal charges filed against the former CEO Sam Bankman-Fried of now-bankrupt crypto exchange FTX. The U.S. DOJ’s letter was filed in response to the defendant's request for clarification and reconsideration of charges related to the misappropriation of funds in FTX. SBF’s counsel had argued that their client was “not guilty because FTX was not regulated in the United States and he followed the rules concerning FTX US.” The DOJ called this argument irrelevant claiming that even though the existence of legislation may be necessary to prove a legal obligation, however, the lack of it does not affect whether the defendant's victims committed mon...