US Senator Cynthia Lummis Pointed out that the FTX vs Binance incident suggests regulation that protects clients is essential.

US Senator Cynthia Lummis One of the people who urged Congress to reconsider crypto legislation, she pointed to the latest FTX issues and wants to prevent a further liquidity crisis.

“Is the market regulation, lending activity, and customer funds and assets properly protected? These are just some of the issues my colleagues and I need to consider in the coming days,” Sen. Cynthia Lummis, R-Wyo., said in a statement.

“The recent events between FTX and Binance are the most vivid example of why we need clear regulations for US digital asset exchanges.”

Transparent and fair trading rules which is defined in Responsible Financial Innovation Law Lummis-Gillibrand It is critical to ensuring that customers are protected while still fostering responsible innovation.”

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