Wally Adeyemo, US Deputy Secretary of the Treasury, said on Thursday, based in the Bahamas. cryptocurrency He said that the collapse of the exchange FTX points to the need for the United States to cooperate with other countries to develop effective international regulations for the crypto sector.
“Needs an International Regulation”
Adeyemo said at the Reuters NEXT conference that it is important to establish regulatory regimes to protect investors, consumers and financial stability, and to curb the illegal use of cryptocurrencies. bitcoin He said efforts need to be expanded, as FTX is not a US-based firm.
Adeyemo used the following statements in his statement:
“This is a global phenomenon. This means we will need to work closely with our international partners to design a regulatory regime within a framework that will help us make sure we protect the global economy as we evaluate innovations like cryptocurrency.”
US Treasury Secretary Janet Yellen Also Talked About Cryptocurrencies Yesterday
Recently, US Treasury Secretary Janet Yellen also spoke about cryptocurrencies.
Yellen said at an event hosted by the New York Times DealBook that it’s important to ensure crypto assets have adequate customer protection.
“I was skeptical and continue to be pretty skeptical,” Yellen said.
He said it was especially important to stay open to financial innovations that could lower the cost of cross-border transactions and help improve financial inclusion, but that the latest developments are not about that:
“I think it’s all that we’ve been through the last few weeks, but before that says, this is an industry that really needs to have enough regulation. And the regulations are not enough.”
*Not investment advice.
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