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As far as I can tell - FTX (at least international / not FTX.us) broke only 1 law - they broke their own terms and conditions :- 8.2.6 All Digital Assets are h
by blitzar 4y ago
As far as I can tell - FTX (at least international / not FTX.us) broke only 1 law - they broke their own terms and conditions :-
8.2.6 All Digital Assets are held in your Account on the following basis:
(A) Title to your Digital Assets shall at all times remain with you and shall not transfer to FTX Trading ...
Excluding this stipulation, which they will be prosecuted for - what exactly the CFTC/SEC/NYSE/NASDAQ/Secret Service/DEA/Texas Rangers were meant to do about a company in the Bahamas is beyond me.
- hef19898 4y agoYou mean the law(s) they broke involved stealing users assets? Reminder so, terms and conditions are not law nor is there any guarantee they hold up in court if challenged.
- blitzar 4y agoIf their terms and conditions said "by depositing your assets on our exchange you are signing them over to us" then there would be no crime at all.
- greatwave1 4y agoTerms and conditions aren't necessarily enforceable, and they really aren't necessarily enforceable when it comes to financial services, and they really really aren't necessarily enforceable when it comes to blatant fraud.
- bhawks 4y ago> Excluding this stipulation, which they will be prosecuted for - what exactly the CFTC/SEC/NYSE/NASDAQ/Secret Service/DEA/Texas Rangers were meant to do about a company in the Bahamas is beyond me. The point is to look tough on crypto, so they can garner support for expanding budgets to deal with a new mandate. It's pure show.