FTX and CFTC settle for $12.7 billion, repaying creditors fully. Pending judge's approval, no civil penalty. Creditors vote on payout method amid rising cryptocurrency values since bankruptcy.
EdmundThe U.S. commodities regulator did not seek a civil penalty, meaning the entire $12.7 billion will go toward repaying FTX’s creditors.
JinseFinanceGatekeepers such as lawyers, accountants and investment firms should have insisted the crypto industry handle itself in a safer fashion.
OthersThe U.S. CFTC today announced a lawsuit against crypto exchange FTX founder Sam Bankman-Fried over alleged violations of federal commodities laws.
decryptCFTC Chair Rostin Behnam had previously said the plans to streamline financial market structure were a potentially unique disruptive innovation.
CoindeskCommissioner Kristin N. Johnson said that the regulator is monitoring crypto clearinghouse LedgerX on a “daily if not hourly basis.”
OthersHe says the FTX proposal for directly clearing certain crypto derivatives without intermediaries is still being weighed and would mark a “significant shift.”
CoindeskThe ruling came the same day a group of crypto lawyers and developers filed to join the CFTC's case against Ooki DAO.
CoindeskDiscussions at FTX.US on a proposal for the clearing of non-intermediated margin products have highlighted unknowns and the need for more regulatory framework.
CointelegraphFormer CFTC head Giancarlo said a “central bank mindset” is holding crypto back, and Wetjen saw the need for more entrepreneurialism in regulatory agencies.
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