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Opinion: No Legal Basis to Confiscate Chinese FTX Funds, Claims Settled in USD ⚖️💰
⚖️📣 A crypto commentator argues there’s no legal ground for confiscating Chinese users’ FTX claim funds, citing the crypto ban’s irrelevance since claims are denominated and settled in US dollars.
🌐 The FTX Recovery Trust’s motion to freeze payouts in 49 regions, including China, faces scrutiny, with the distribution phase deemed independent of crypto regulations.
💡 The critic asserts no legal risk exists for Chinese citizens receiving USD compensation, challenging the Trust’s legitimacy. Yet, some question if offshore holding limits or regulatory gaps could complicate this stance. Is this a valid defense, or a loophole in enforcement?
#FTXClaims #CryptoRegulation #USDSettlement
⚖️📣 A crypto commentator argues there’s no legal ground for confiscating Chinese users’ FTX claim funds, citing the crypto ban’s irrelevance since claims are denominated and settled in US dollars.
🌐 The FTX Recovery Trust’s motion to freeze payouts in 49 regions, including China, faces scrutiny, with the distribution phase deemed independent of crypto regulations.
💡 The critic asserts no legal risk exists for Chinese citizens receiving USD compensation, challenging the Trust’s legitimacy. Yet, some question if offshore holding limits or regulatory gaps could complicate this stance. Is this a valid defense, or a loophole in enforcement?
#FTXClaims #CryptoRegulation #USDSettlement
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