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US SEC and CFTC lawsuits against Pay Sam Bankman Fried back

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

SEC and CFTC lawsuits against FTX former CEO Sam Bankman Fried will have to wait until a date criminal cases against I concluded him.

Attorney Damien Williams of the Southern District Court of New York has applied to stay to pay back Civil Lawsuits Filed by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) against former FTX CEO Sam Bankman-Fried (SBF), hereafter criminal cases against I concluded him.

SBF’s criminal priority cases

For all sources close to the latest developmentSouthern, District Court for New York attorney Damien Williams ruled on February 13 that meeting of Civil cases brought by the United States regulatory Custody, SEC, and CFTC, should It is suspended until after the completion of ongoing criminal issues against Shameful SBF by management of Justice (Ministry of Justice).

Sam, the former billionaire, is accused of organizing one of the biggest financial frauds in Our history with the shipment of money laundering, misappropriation of customer funds, and irregularities of election campaign finance laws, among other things, slapped against him.

In a similar vein, both the CFTC and the SEC have filed civil charges. Of scam against FTX and its subsidiary, Alameda Research, leading to a high-profile bankruptcy that resulted in a more than $8 billion loss of Client hard earned money last November.

While former Alameda CEO Caroline Ellison and FTX CTO Gary Wang have since pleaded guilty to collusion. With SBF to regulate fraud and other illegal practices, Bankman-Fried has so far denied any wrongdoing, with a scheduled trial date for October 2, 2023.

In the investigation of The collapse of FTX, the US Congress raised concerns over the Timing of Securities and Exchange Commission fees against SBF. President Gary Gensler has tasked him with publishing records and communications between the agency and the Department of Justice.

Increased FTX breakdown triggers a regulatory audit

The FTX disaster, which exacerbated the free fall in the price of bitcoin (BTC) and other cryptocurrencies, increased regulatory web audit 3 space Ir various Judicial authorities.

As part of Regulators’ attack against encryption spaceSupreme Education Council shut down the Cryptocurrency storage service on the Kraken exchange on February 9, accusing the centralization bitcoin trading platform of Offering unregistered securities to clients.

Despite drawing serious criticism from cryptocurrency proponents, including Commissioner Hester Pierce, the Securities and Exchange Commission (SEC) has made it clear that its enforcement actions against A legendary sea monster should A warning to other exchanges, such as Coinbase.

As reported by News Agencies on February 13, the Securities and Exchange Commission ordered Binance stablecoin (BUSD) Issuer Paxos to stop minting the coin assetdescribing it as an unregistered security.

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