{"id":55734,"date":"2022-01-12T10:37:14","date_gmt":"2022-01-12T08:37:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=55734"},"modified":"2025-09-04T03:05:16","modified_gmt":"2025-09-04T00:05:16","slug":"ftx-chief-calls-for-regulators-to-create-a-single-framework-for-cryptocurrency-rules","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-chief-calls-for-regulators-to-create-a-single-framework-for-cryptocurrency-rules\/","title":{"rendered":"FTX chief calls for regulators to create a single framework for cryptocurrency rules."},"content":{"rendered":"<p>Regulators should establish a single global supervisory framework for the cryptocurrency market that would require full disclosure. This view was expressed by Sam Bankman-Fried, co-founder and CEO of the FTX exchange, according to <a href=\"https:\/\/www.scmp.com\/business\/banking-finance\/article\/3162950\/crypto-exchange-ftx-calls-regulators-ditch-securities?module=perpetual_scroll_0&#038;pgtype=article&#038;campaign=3162950\">SCMP<\/a>.<\/p>\n<p>Broad rules would allow investors to make informed decisions and spare the industry from a flood of regulatory demands that could stifle innovation, he noted.<\/p>\n<p>Splitting supervision across several agencies depending on whether an asset is a &#8216;security&#8217; or not will not protect investors, Bankman-Fried said. Instead, a &#8216;single framework that would take into account such important issues as disclosure and ways to prevent fraud&#8217; is needed, he said.<\/p>\n<p>Bankman-Fried emphasised that some crypto assets have properties that make them resemble securities, while others do not. The boundaries are blurred, but such complexity should not distract regulators, he added.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We have different legal and regulatory frameworks for all other asset classes; the same should be created for cryptocurrencies,&#8221; said the head of FTX.<\/p>\n<\/blockquote>\n<p>During an online address at the annual Asian Financial Forum, Bankman-Fried also touched on sovereign digital currencies. In his view, CBDCs will not compete with cryptocurrencies and stablecoins, since access to them will be limited to banks.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Central bank digital currencies digitise the existing fiat system, which is not open to direct user participation,&#8221; he said.<\/p>\n<\/blockquote>\n<p>Earlier, in December 2021, Bankman-Fried said that the crypto industry needed to solve a number of problems to become mainstream. Among the main challenges he <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-chief-cites-the-main-problems-facing-the-cryptocurrency-industry\">named scalability and regulation<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Regulators must establish a single global supervisory system for the crypto market that would require full disclosure. This view was expressed by Sam Bankman-Fried, co-founder and CEO of the FTX exchange, according to SCMP.<\/p>\n","protected":false},"author":1,"featured_media":55735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,1138],"class_list":["post-55734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=55734"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55734\/revisions"}],"predecessor-version":[{"id":55736,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55734\/revisions\/55736"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/55735"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=55734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=55734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=55734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}