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Lawmakers Reconsidering Crypto Regulation Following FTX Collapse
Summary: The collapse of crypto exchange FTX has led lawmakers into reevaluating the regulatory framework for cryptocurrencies, according to the Wall Street Journal. Several proposals are under way that would apply existing financial rules to cryptocurrencies, and lawmakers are pushing for the Securities and Exchange Commission to take a more aggressive approach to cryptocurrencies. Many legislators ...
The collapse of crypto exchange FTX has led lawmakers into reevaluating the regulatory framework for cryptocurrencies, according to the Wall Street Journal.
Several proposals are under way that would apply existing financial rules to cryptocurrencies, and lawmakers are pushing for the Securities and Exchange Commission to take a more aggressive approach to cryptocurrencies.
Many legislators are in favor of such regulations, including Rep. Jake Auchincloss, who believes “it’s time for the blockchain investors and entrepreneurs to build things that matter or to lose more credibility."
“Someone needs to convince me that it’s not all just a Ponzi game,” Senator Roger too said in reference to the crypto industry.
Yet, there are still those who are in favor of the crypto industry, among the few being Rep. Patrick McHenry, who believes it is necessary “to separate out the bad actions of an individual from the good created by an industry and an innovation.”
Author: Katie Lin
Tags: Crypto Exchange,Cryptocurrency,FTX,Lawmakers,Regulation
Link: Lawmakers Reconsidering Crypto Regulation Following FTX Collapse [Copy]
