📣 U.S. Regulators' Readiness for FTX-Like Crises Questioned
posted 15 Nov 2023
The Chairman of the U.S. Commodity Futures Trading Commission, Rostin
Behnam, recently declared that American regulators are yet to be
equipped with the necessary powers to prevent a repeat of the FTX
collapse.
Despite
a legislative proposal in Congress intended to enhance the CFTC's
supervisory capacity over cryptocurrencies, political standoffs are
delaying its enactment.
Behnam
also underscored the regulatory gap for bitcoin-like tokens,
representing a significant market share, yet not acknowledged as
securities, compounded by the fragmented nature of regulatory
jurisdiction.
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