US Senators U.S. Desak Of The US Department Of Justice Seek Severe Punishment For FTX Officials

JAKARTA The bankruptcy of one of the largest crypto exchanges in the world, FTX, encourages US senators to urge the US Department of Justice (DOJ) to immediately take action against FTX officials. Unmitigated, US senators have sent letters to the Attorney General in DOJ.

The most vocal US Senators in this regard are Elizabeth Warren and

"Given the Department's commitment to hold white-collar criminals personally accountable, we expect DOJs to investigate the actions that led to FTX's collapse with full supervision," Warren said.

For information, white-collar crime is a term for perpetrators of fraud committed by someone who has a high position or authority, both in the government and private sectors.

While it remains unclear which laws FTX and its CEO Sam Bankman-Fried violated and whether they are in US jurisdiction, Senators are asking the Department to continue suing FTX officials.

"When this situation is revealed, new facts will undoubtedly explain more about how Bankman-Fried and colleagues fraud has harmed FTX customers, and customers of any company affected - and could reveal that the problem with the crypto industry extends far beyond FTX," the US senator wrote in his letter, quoted by DailyHodl.

"We urge the Department to concentrate these victims while investigating, and, if deemed necessary, demand the individuals responsible for their losses," the senator's demands added in the letter to the DOJ.

It doesn't stop there, Senator Warren has also confirmed his stance on the crypto industry by publishing an article in the Wall Street Journal on Tuesday. Warren insists that cryptocurrencies are often promoted by criminals and con artists, not much different from other fraudulent schemes.

The supporters say that crypto has a great promise to make the financial system more efficient and inclusive. Maybe... Warren said in his writing.

"But we've heard that story before. History is filled with financial schemes promoted by criminals and con artists who claim that the latest and greatest tools have grown beyond the need for regulation or police on duty. During the 2008 collapse and any previous financial crisis, these claims have proven very FARming. Crypto is no exception," he added.