Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), made statements about cryptocurrency regulations and the FTX collapse.
SEC Chairman gens He made statements about the latest developments at a conference he attended. Commenting on the events on FTX as part of the big picture, Gensler made the following statements in his statement on the subject:
What we’ve seen in the last two days is really part of what we’ve witnessed over the last six or eight months, if we can look back a little and see the big picture. Investors suffer when we don’t trust time-tested public policy scares.
In this process, which took place in the continuation of Gensler’s speech, especially explanation and transparency that there is a lack, using investors’ money and forward-looking trade he said he saw. Claiming that the cryptocurrency regulation, which is currently being worked on by US lawmakers, will be insufficient and weak, Gensler emphasized that the draft law is not qualified to meet the needs:
I would also like to point out that some of this legislation was supported by the same people who had failed in the last day or two. And you wonder why. Because it was a very light touch.
While the SEC’s investigations into the events continue, leading countries and lawmakers can use these events on the industry as an excuse for harsh regulation. The descriptions show that terra (LUNA) This chaotic process experienced by the world’s second largest stock exchange FTX after its collapse will seriously affect the fate of cryptocurrencies.