Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, believes that cooperation between US financial sector regulators will help the entire crypto industry.
Sam Bankman-Fried declaredthat the struggle for power in Washington is slowing down the development of the cryptocurrency industry. At the center of this fight are the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). These organizations cannot share control of the industry, which is why the industry suffers. According to the businessman, if the agencies could come to an agreement and cooperate, this would help to achieve significant progress.
However, Bankman-Fried is confident that the industry is in a better position now than it was a year ago. Many politicians advocate clear regulation of the industry and put forward proposals that are seriously considered at the federal level. If earlier the legislation regarding the crypto industry was chaotic and few people imagined how it should be regulated, then the last year has proved that the digital asset sector is viable and deserves attention.
As an example, the entrepreneur cited international regulatory bodies that have clear principles for the industry, which, according to Bankman-Fried, will greatly help the development of the industry.
“This will give other countries a template that they can use in conjunction with their laws, as well as push them to healthy competition and create their own infrastructures for digital currencies,” said the head of FTX.
Earlier, Sam Bankman-Fried announced that his company would create a $1 billion charitable foundation to prevent the next pandemic.
Source: Bits
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