DOJ states that FTX-SBF allegations are valid notwithstanding the absence of US crypto laws.
Sam Bankman-Fried’s legal team argued that FTX was not situated within the borders of the United States. They emphasized that Sam Bankman-Fried had diligently followed all regulatory requirements related to FTX US, asserting that charges pertaining to FTX International should not be applicable. The United States Department of Justice ( DOJ ) took a different stance when it filed a motion in court on October 4th. In this motion, they argued that the absence of clear crypto currency regulations in the U.S. should not serve as a barrier to pressing criminal charges against the former FTX CEO, Sam Bankman-Fried (SBF). The DOJ ’s response came as a reaction to the defendant’s plea for clarity and reconsideration of the charges related to the alleged misuse of funds within FTX. SBF’s legal representatives maintained that their client was innocent because FTX was not subject to regulation in the United States, and SBF had abided by the rules governing FTX US. The DO...