Democratic lawmakers in the United States are reportedly set to return over $1 million to victims of the now-defunct SBF crypto derivatives exchange. According to a report from Cointelegraph, the U.S. House of Representatives has reportedly authorized the return of funds to customers of the now-defunct exchange, which was operated by FTX. The funds were originally seized by the U.S. government in 2019 as part of a crackdown on fraudulent Initial Coin Offerings (ICOs). Victims of the exchange will reportedly receive the funds in the form of a check written out to them. The move is part of an effort by the House of Representatives to provide more consumer protection to those investing in the cryptocurrency space.
Source: Cointelegraph