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It's a shame those allegations don't amount to criminal prosecution. We need to have criminal liability for some of these things, I believe it would change how
by jasmer 4y ago
It's a shame those allegations don't amount to criminal prosecution.
We need to have criminal liability for some of these things, I believe it would change how banking works.
It might be a bit harder to get a good interest rate, so be it.
- wmf 4y agoDOJ may be waiting for CZ to stick his head up in a friendly jurisdiction.
- rwmj 4y agoWhile Dubai (where he's allegedly living) doesn't have a formal extradition treaty with the US, they are nevertheless stepping up extraditions for money laundering: https://archive.md/faqoU https://archive.md/faqoU
- davidgerard 4y agoThe CFTC complaint is very weird - it details a ton of serious crimes up to knowing terrorist financing, and then charges them with ... offering derivatives to US hedge funds without having registered? And they got this information by cracking CZ's phone! that complaint reads like it has a shadow twin document, and that shadow twin is a DoJ indictment for CZ.
- seydor 4y ago> it details a ton of serious It alleges but provides very little evidence, including their primary claim that binance "solicited" US users which they don't show at all
- davidgerard 4y agoyou could only say that if you had not read the document, listing all the chat conversations where they're trying to do that precise thing
- seydor 4y agoall of them show that they tried to either stop us users or nudge them to go offshore to keep trading. where is solicitation implied?
- jasmer 4y agoI have no understanding of that world, but maybe that's the thing they use to draw him into scrutiny, which will justify further investigation. I have no sympathy. I mean, I hope Justice prevails and don't want anyone to lose their shirt due to undue scrutiny, but it looks like a lot of smoke there.
- davidgerard 4y ago> I have no understanding of that world > it looks like a lot of smoke there. ok
- bagacrap 4y agoSbf is on trial. Cz's alleged crimes are much less bad IMO, and no worse than a lot of other white collar crime. Binance mainly only "victimized" more sophisticated players like hedge funds or Americans who knew it was illegal but wanted to trade crypto derivatives anyway.
- jasmer 4y agoAny business that needs to hide it's operations under layers of obfuscation, offshoring, break rules, avoid oversight and literally admits to 'Being About the Crime' is a de facto criminal operation. Or rather 'infrastructure for criminals'. SBF got caught is the difference. It's a scam from top to bottom. I don't care about 'bankers or traders' in the US but I do care that regulations exist for a reason and that the supposedly headline libertarian ideals are mostly a cover for what ends up just being bad stuff. I have no problem with those operating in transparent environments.