Sam Bankman-Fried, founder and CEO of FTX, which moved the center of the stock market from Hong Kong to the Bahamas last year, spoke at the “Asian Finance Forum” organized by the Hong Kong government.
The young CEO said that instead of focusing on whether the assets are securities or not, regulators should make one and common regulation for digital assets.
Sam Bankman-Fried continued, noting that rather than securities classification, regulators should focus on important issues such as crypto fraud prevention:
“Regulators need to focus instead on creating a single, common framework for the global cryptocurrency market.
Because regulators’ emphasis on securities classification will not protect investors.
We have different regulatory frameworks for all other asset classes, we can do the same for crypto.”
FTX’s young CEO has made similar appeals to regulators before. Because the US Congress listened to the CEOs of large crypto money companies, including the CEO of FTX, at the meeting held in December.
Famous CEOs who attended the meeting of great importance had made similar speeches on the point that “it would not be wise to turn a blind eye to the growing crypto ecosystem” and urged regulators to provide a clear regulatory framework for crypto.