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Case law is likely to shape future of US crypto rules

Tuesday, December 20, 2022

Significance

The implosion of FTX, its sister hedge fund Alameda Research and an interconnected assortment of digital-asset entities founded by Bankman-Fried has fuelled demands in the United States for stringent regulation to protect consumers and investors.

Impacts

  • The speed with which FTX-related charges were brought shows authorities' intent to be seen to be acting more swiftly on white-collar crime.
  • Product liability suits brought by consumers, an established US legal remedy, are likely.
  • Plea deals to avoid long, complex trials are routine for financial crimes, but public outrage at FTX may make this politically impossible.

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