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IWankToTits t1_j2t4lr1 wrote

Reply to comment by HappyFamily0131 in Sam Bankman-Fried pleads not guilty to federal fraud charges in New York amidst renewed federal probe by fadufadu

I hope Im wrong but I think a big thing people are forgetting here is this is about crypto. Which I would argue has purposely been left to its own devices.

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Aazadan t1_j2toizl wrote

Yes and no. They had terms of service regarding using depositors funds. Financial regulations or not, that was theft, and they've already admitted to it, in addition to the corporate fraud.

SBF is in a lot of trouble, regulations are just an additional set of laws for an industry to adhere to, not the only laws.

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notaredditer13 t1_j2ut8un wrote

The markets/currencies may be unregulated, but fraud is fraud. You can't lie to someone about what you are doing with their money, Beanie Babies or crypto.

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