Reported about 1 month ago
The U.S. Securities and Exchange Commission (SEC) has raised concerns regarding FTX's plan to repay its customers with stablecoins, asserting its right to challenge such transactions. Following FTX's bankruptcy and the conviction of its founder, the company aimed to repay users up to $16.3 billion under a restructuring plan. However, the SEC argues that the legality of stablecoin transactions is unclear under existing securities laws, complicating the repayment efforts.
Source: YAHOO