In a statement made by the White House, it was stated that the Biden administration was closely following the FTX collapse.
According to Reuters, the White House Press Secretary Karine Jean-Pierre took place yesterday White House He said at the press briefing, “Management has consistently argued that without proper oversight, cryptocurrencies risk harming ordinary Americans.” he stated.
The White House front, which advocates the introduction of more and stricter regulations on cryptocurrencies, stated that they are working to bring the situation under control as soon as possible:
The Biden administration is aware of the latest developments regarding FTX and we will continue to monitor the situation. The administration has repeatedly argued that cryptocurrencies risk harming ordinary US citizens if not properly regulated. This is something we’ve been following openly and seeing as an important issue. Recent news further underscores these concerns and highlights why prudent regulation of cryptocurrencies is truly necessary.
The US side continues its regulatory work on cryptocurrencies. terra (LUNA) collapse, it seems that these developments on FTX will force the possible law that we will encounter in the future to make it even more strict and comprehensive.
US President Joe Bidenhad signed an administrative order earlier this year that compelled government agencies to work extensively to regulate the crypto industry, and demanded that the work be expedited.