By Brenda Collins
Federal prosecutors have asked that former FTX CEO Sam Bankman-Fried be restricted to using only approved websites while he waits for trial, the most recent development in the continuing case against him. Prosecutors feel that restricting Bankman-access Fried’s to technology is vital to stop him from committing any other crimes while he is currently facing a number of accusations relating to the collapse of the bitcoin exchange.
According to court filings, prosecutors have asked that Bankman-Fried be restricted to using a “flip phone or other non-smartphone” while he waits for trial. They have also requested that he be restricted to using only a select group of websites they have determined to be “safe” for personal use.
These websites include streaming services like Netflix and Spotify and news websites like Bloomberg, the New York Times, and The Block. Also suggested as suitable sites are consumer delivery services like Door Dash and Uber Eats.
How the Public is Taking the Situation
Reactions to the decision to significantly restrict Bankman-access Fried’s to technology have been conflicting. Some have praised the action, claiming it is vital to stop him from committing further crimes. To others, they have expressed worries about how such limitations would affect Bankman-capacity Fried’s to present a defense.
Also read:It was gathered that the planned restrictions have also drawn criticism from Bankman-legal Fried’s counsel. They expressed their “disappointment” with the request in a statement to the media, saying they thought it was “unnecessary and unduly restrictive.” They continued by saying that they would work to have the limitations relaxed so that Bankman-Fried would have more access to technology.
From investigations gathered so far, the cryptocurrency community has been keenly following the Bankman-Fried case because it is viewed as a crucial test of the regulatory environment for the sector. Market manipulation, money laundering, and wire fraud are just a few offenses that Bankman-Fried is charged with. Analysts have predicted that he might be given an extended prison sentence if found guilty.
The trial is now scheduled to start in the upcoming months. It is unclear how the planned limitations on Bankman-access Fried’s technology will affect the proceedings. Whatever the outcome, the lawsuit will significantly impact the legal environment around cryptocurrencies and the sector itself.
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