U.S. Crypto Regulation Irrelevant to Sam Bankman-Fried FTX Allegations, DOJ Says in Fraud Trial Arguments

“Whereas the existence of a legislation is likely to be related to ascertain a statutory obligation of care, the absence of regulation will not be related as to whether cash was, in actual fact, entrusted to the defendant’s care by his victims,” the DOJ submitting stated, including that the present legal rulebook is ample. “There are prohibitions on misappropriating buyer belongings – they’re the very legal guidelines that the defendant has been charged for violating.”