US crypto bosses criticized the US regulator, implying that the vague regulations of the US Securities and Exchange Commission (SEC) also contributed to the FTX crash and its negative effects on the market.
US Senator Elizabeth Warren 10 November onHe said that the FTX crash is an indication that the market is quite dangerous, and that the market is more dangerous. aggressive sanctions. the SEC on this because it thinks it needs stated that he would.
On top of that, Coinbase CEO Brian Armstrongthe removal of the SEC’s vague regulations from U.S. crypto users. meaningless stated that. CEO In response to Senator WarrenFTX offshore based is a company and not regulated by the SEC He suggested that it would not make sense for a collapse in a company to return to US-based investors and entrepreneurs as heavier regulations. Armstrong said that the SEC’s uncertainty about US investors and business activities 95% of He claimed to have traveled to offshore countries.
Brad Garlinghouse, CEO of Ripple He also supported Armstrong. Garlinghouse explains why businesses and startups go offshore on how they can run business in the United States. lack of regulatory guidance stated that. Showing Singapore as an example The CEO claimed that the country has consistent regulation as well as a consistent crypto tax system, and they know that not all cryptocurrencies are securities, despite the insistence of SEC Chairman Gary Gensler.
Circle CEO Jeremy Allaire and Jesse Powell, CEO of Kraken also expressed similar views on the subject. Jeremy Allaire noted that the lack of a clear regulatory framework is a big problem, urging Senator Warren to help write a strong policy and just asked him not to dwell on the sanctions. Jesse Powell In his statement on the subject, he said that the US regulators refused to make a viable framework in a controlled way in this situation. have responsibilities He claimed.