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SEC Case Against Bankman-Fried Postponed Pending Criminal Trial

Charges can wait until the Department of Justice’s case against the FTX founder concludes, a judge said.

Aggiornato 14 feb 2023, 4:44 p.m. Pubblicato 14 feb 2023, 10:06 a.m. Tradotto da IA
(Michael del Castillo/CoinDesk)
(Michael del Castillo/CoinDesk)

The U.S. Securities and Exchange Commission’s case against FTX founder Sam Bankman-Fried will be put on hold until related charges brought by the Department of Justice are dealt with, a U.S. judge said in a Feb. 13 ruling.

U.S. prosecutors last week said a pause would save time and resources, as the DOJ case against Bankman-Fried will likely influence overlapping civil cases. The SEC said Bankman-Fried used customer funds for his lavish lifestyle.

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On Tuesday, another civil case brought against the disgraced founder by the U.S. Commodity Futures Trading Commission was also delayed until after the criminal trial.

In December, Bankman-Fried was arrested following the collapse of FTX, and has pleaded not guilty to criminal charges brought against him by the DOJ, which include wire fraud and money laundering.

Read more: US SEC Charges Sam Bankman-Fried for Defrauding FTX Investors

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CFTC Launches Digital Assets Pilot Allowing Bitcoin, Ether and USDC as Collateral

Caroline Pham, acting chairman of the Commodity Futures Trading Commission

Acting Chair Caroline Pham has unveiled a first-of-its-kind U.S. program to permit tokenized collateral in derivatives markets, citing "clear guardrails" for firms.

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  • The CFTC has launched a pilot program allowing BTC, ETH and USDC to be used as collateral in U.S. derivatives markets.
  • The program is aimed at approved futures commission merchants and includes strict custody, reporting and oversight requirements.
  • The agency also issued updated guidance for tokenized assets and withdrew outdated restrictions following the GENIUS Act.