US Securities and Exchange Commission (SEC), cryptocurrencies He has received criticism from many crypto leaders and experts for his thoughts on their structure. However, FTX founder Sam Bankman-Fried (SBF) also expressed his opinion on the subject.
FTX CEO Speaks About Cryptocurrencies As Securities Or Commodities
SBF, the CEO of the cryptocurrency exchange, was sharing details on Twitter about how the FTX margin infrastructure works and the structure they propose in the US.
He cited a report suggesting that Germany only proposes to allow futures with pre-deposited collateral.
In the midst of this issue, the famous name, a journalist named Alex, asked his opinion in the discussion that “most cryptocurrencies are actually securities”.
In response, the CEO of FTX wrote that there are securities tokens and non-security tokens.
On the subject, the famous name stated that the SEC will deal with crypto assets that are largely securities and are offered for sale, while the CFTC will deal with non-security tokens.
The SBF concluded its tweet by saying that it supports a federal audit of cryptoassets in whatever form.
there are tokens that are securities and tokens that aren’t
by default I assume that SEC will take those that are (at least for issues) and CFTC those that aren’t (at least for futures), but I’m flexible
in the end I want federal oversight of crypto one way or another https://t.co/dexp04XyjC
— SBF (@SBF_FTX) July 23, 2022
Meanwhile, FTX has announced that they are willing to provide liquidity to Voyager Digital’s clients in the process of acquiring firms that have been sinking due to the recent crypto crash. According to the offer, Voyager’s customers will have the opportunity to open a new account on FTX platforms.
On the other hand, the SEC recently AMP (AMP), Rally (RLY), Rari Governance Token (RGT), XYO (XYO), DerivaDEX (DDX), DFX Finance (DFX), LCX (LCX), Powerledger (POWR) and Chromatica (KROM) altcoins classified 9 assets as securities.
*Not investment advice.