FTX Exchange Reveals What It Hopes To See In US Crypto Regulations

FTX, one of the leading cryptocurrency exchanges for derivatives and spot trading. Has Revealed What It Hopes To See In US Crypto Regulations

“FTX’s Key Principles for Market Regulation of Crypto-Trading Platforms” is the regulatory guidance of the FTX exchange by Sam Bankman-Fried. The company’s CEO is set to testify before parliament next week on regulations for the industry.

policy documentIt summarizes 10 principles that are believed to be “Leads to superior results for investors and the public.”

The first is a call to have The “primary market regulator,” which is now the US Securities and Exchange Commission (SEC) is the primary authority on securities. This includes a large number of tradable digital assets, while the Commodity Futures Trading Commission will be a watcher and in derivatives such as Bitcoin futures, where FTX recommends changing these due to fragmentation and choosing only one regulatory body for the cryptocurrency exchange. look after

FTX Bankman-Fried will join Coinbase CFO Alesia Haas to testify on Dec. 8, before the House of Representatives Financial Services Commission chaired by Rep. Maxine Waters (D-CA) to discuss the matter. “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Innovative Finance in the United States” as part of efforts to create policies that protect consumers entering the crypto market.

The FTX is poised to tell Congress it doesn’t need to waste time learning new methods. when you already know what to do “This can be done at present under the existing legal powers. and with creativity and cooperation between regulators however The law may need clarity on some issues.”

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