SEC Warns FTX Against Paying Creditors Back In Stablecoins, Other Crypto !!
According to a recent filing, the Securities and Exchange Commission has warned FTX that it "reserves its rights to challenge transactions involving crypto assets." Specifically, the
SEC hints that it may challenge the âlegalityâ of payments made by the exchange to creditors if it chooses to use stablecoins.
The SEC's filing also notes that the plan fails to specify who would distribute the stablecoins, should that provision be approved.
Itâs important to note that the SEC didn't outright state that such an action would be illegal; it just said that it seeks to preserve its option to potentially challenge such a transaction.
