FTX CEO calls for unified crypto regulation system

by in Cryptocurrency News

CEO

Many representatives of the cryptocurrency industry periodically state that the digital asset market will grow at the expense of institutional capital. However, for the penetration of investment funds and financial companies into the crypto sphere, it is necessary to legalize it.

According to the CEO of the FTX exchange Sam Bankman-Fried, at the global level, it is necessary to develop a unified system of market control.

The businessman expressed his point of view at the Asian financial forum, organized with the support of the Hong Kong authorities. Bankman-Fried stressed that many regulators now classify digital currencies as securities in the hope that existing legislation will protect investors.

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However, the FTX CEO considers this approach to be wrong. Regulators need to focus on consolidating rules and creating a unified platform for overseeing the industry.

Bankman-Freed has previously repeatedly stated the need to legalize the cryptosphere.

At the end of last year, he, along with other representatives of the crypto business, spoke at hearings in Congress and called on the US authorities to speed up the implementation of legislation so that blockchain startups can work comfortably in the country.