Good morning Asia. Here's what's happening: 1. Bitcoin inched up as congestion began to clear on the network, but investors ponder the next price catalyst. 2. SBF's dismissal motion questions the reach of the Commodities Exchange Act. By TheSamReynolds
One part of his legal team’s move to dismiss the allegations of commodities fraud: extraterritoriality.
They further argue that prior case law dictates that the focus of the CEA is not on the geographical location of transactions, but on preventing manipulation and ensuring market integrity. “The CFTC’s increasingly expanded view of their jurisdiction will likely be challenged, especially against offshore exchanges and participants that have limited ties to the United States,” Braden Perry, a former Commodity Futures Trading Commission enforcement attorney and now a partner at Kennyhertz Perry,Unfortunately, for those interested in seeing a case where the CFTC’s view that its mandate was international,taken by Arthur Hayes and Ben Delo prevents a full exploration of these issues in...
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