Sam Bankman-Fried Founder and CEO of FTX ExchangeclaimLet regulators create a single framework for digital assets in the Asian Financial Forum hosted by the Hong Kong government. to highlight new opportunities within the regional economy
Sam Bankman-Fried points out that instead of focusing on determining which assets are securities, Regulators must focus on consolidating regulations and creating rulebooks on crypto.
Bankman-Fried It also noted that a framework focused on disclosure and fraud prevention may be more important than labeling assets as securities, while the FTX CEO did not address the regulators he called. But many regulators around the world are focused on categorizing tokens as securities. However, he is confident that this does not protect investors.
He also emphasized the regulatory framework for other asset classes, noting that the same should be done for digital assets.
This isn’t the first time the founders have engaged with regulators. Back in December 2021, Bankman-Fried. along with other executives from well-known crypto companies. was called to attend the committee’s hearings. which they have called on US regulators Provides regulatory clarity on digital assets
meanwhile Many experts expect regulatory standards to advance in 2022, said Hatu Sheikh, DAO Maker co-founder and chief strategy officer. “Realize that this industry is growing. and the present is too large to be covered or banned.”
Ankitt Gaur, CEO of EasyFi Network, said that decentralized financing (DeFi) is the focus of regulations in 2021, “DeFi is slowly entering the mainstream. Discussions about regulation are taking place,” Gaur said.
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