Ira Lee Sorkin, who previously represented Bernie Madoff, discusses why it will not likely work for FTX founder Sam Bankman-Fried to blame the collapse of the exchange on the lack of regulatory clarity in the crypto industry. 'There's no regulation that says you are permitted to misrepresent information to investors...there's no regulation that says do whatever you want with investor's money,' Sorkin said.
distinctive hair launch defenses against their alleged bad behavior. But just as the Elizabeth Holmes trial was not about Theranos' diagnostic testing, the SBF trial is not about crypto. It’s a tale as old as fraud.
Victims deserve more than headlines; they deserve restitution. And true remorse? That's not just a legal term; it's a moral imperative that must be visibly demonstrated. It lays out rules for the EU’s 27 member countries covering issuers of stablecoins , unbacked crypto assets, trading venues and exchanges . Decentralized finance , non-fungible tokens and staking were all, sensibly, carved out of this piece of legislation, though the European Commission has a mandate to study and report back to legislators on these aspects
In the last year, the United Kingdom has made moves to develop its framework for digital assets. While the journey has not been, titled"the future financial services regulatory regime for cryptoassets," which concluded on April 30, 2023. The Treasury is expected to publish its response to the consultation in the coming weeks.
Japan, which heeded lessons learned from a previous crisis and put consumer protections in place, has incorporated Web3 into its national economic plan. Additionally, in June this year, the Japanese Financial Services Agency amended the Payment Services Act . The agencies wanted to update the country’s regulatory framework for stablecoins and crypto assets.
The Clarity for Payment Stablecoins Act, which provides for a regulatory framework for the issuance and oversight of payment stablecoins, also passed out of the House Financial Services Committee.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sam Bankman-Fried: Key moments from week one in FTX founder's criminal trialBarnini Chakraborty is the senior investigations reporter at the Washington Examiner. She has previously worked at Fox News as a senior features and politics reporter. She's also worked at Fox Busines
Read more »
The Judge Is So Fed Up With Sam Bankman-Fried’s LawyersWhatever their plan to save their client is, it's very repetitive.
Read more »
Pro XRP Lawyer John Deaton slams Sam Bankman-Fried’s sympathizersXRP holder's lawyer John Deaton criticizes sympathizers of ex-FTX CEO Sam Bankman-Fried during his trials related to their crypto venture's collapse.
Read more »
The First Week of Sam Bankman-Fried’s Criminal TrialSheelah Kolhatkar reports on the first week of the proceedings in the trial of the FTX co-founder Sam Bankman-Fried in Manhattan.
Read more »
Caroline Ellison, Sam Bankman-Fried's ex-girlfriend, to take center stage in crypto trialBarnini Chakraborty is the senior investigations reporter at the Washington Examiner. She has previously worked at Fox News as a senior features and politics reporter. She's also worked at Fox Business as a field producer and at Dow Jones. She began her career at the Augusta Chronicle in Georgia.
Read more »
Sam Bankman-Fried $500M Anthropic stake irrelevant to case, prosecutors sayGovernment prosecutors have requested the preclusion of the potential recovery of FTX-related assets that Sam Bankman-Fried invested in AI startup Anthropic.
Read more »