Judge denies requests of SBF about the absence of crypto rules and FTX recovery

Key points:

• Judge denies requests of SBF to introduce evidence related to asset recovery and rejects the presentation of lack of cryptocurrency regulation as evidence.
• New York district judge issues significant rulings in the trial of Sam Bankman-Fried, regarding asset recovery in the FTX bankruptcy case and cryptocurrency regulation in the United States.

Sam Bankman-Fried’s (SBF) attorneys attempted to introduce evidence to the jury regarding the recovery of assets in the FTX bankruptcy and the absence of crypto regulation in the United States, but a New York district judge rejected their arguments.

Judge Denies Requests of SBF to Reconsider Evidence Related to Asset Recovery

In a recent legal development, a New York district judge denies requests of SBF, the former CEO of FTX. The decisions notably pertain to the recovery of assets in the FTX bankruptcy case and the absence of cryptocurrency regulation in the United States.

Judge Lewis A. Kaplan unequivocally denied a request from Bankman-Fried’s legal team to reconsider a previous order that prohibited the former CEO from introducing evidence regarding the asset recovery process in the FTX bankruptcy proceeding. Judge Kaplan emphasized that the defendant’s intent to repay misappropriated funds was immaterial as a matter of law, as the offense was deemed complete when there was an immediate intent to misapply and defraud.

Lack of Cryptocurrency Regulation as Evidence in Sam Bankman-Fried Trial

Furthermore, the judge Judge Denies Requests of SBF’s idea of presenting the lack of cryptocurrency regulation in the U.S. as evidence, stating that such information would hold “minimal probative value” and had the potential to confuse the jury.

While these decisions were straightforward, there was one point of reconsideration permitted. Bankman-Fried’s mention of his charitable contributions during the trial was granted a second look, but with specific conditions. Judge Kaplan clarified that the government does not oppose the presentation of admissible evidence concerning charitable or philanthropic efforts, provided it serves a proper purpose.

Coincu will continue to update the situation related to Sam Bankman-Fried, you can find out more information through this article.

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