Sam Bankman-Fried believes that the United States will develop rules for cryptos within a year. The CEO of the FTX crypto exchange, indeed made this statement to the participants of the SALT event in New York. According to him, US lawmakers will draft a bill regarding the rules to be established for cryptos. He also adds that he regularly travels to Washington for lobbying purposes.
Rules for cryptos within a year? (Bankman-Fried)
During the conference, Bankman-Fried addressed issues of government regulation. This has created tension with the crypto industry, partly reflecting laws written in the pre-digital era.
Facing mainstream finance audiences, Bankman-Fried says his lobbying efforts had been encouraging. He also underlined his optimism about the prospects of a more clearly defined regulatory framework.
Bankman-Fried’s conversations with lawmakers were mostly about protecting crypto investors and customers. “ I was kind of pleasantly surprised at how honestly a lot of people in DC try to figure out how they can do the right thing. »did he declare.
The CEO of FTX is a key figure in the crypto world. Indeed, this is the person who provided funds to crypto companies on the verge of insolvency. Among these companies are Three Arrows Capital (3AC) and Voyager Digital. The community thus regards Bankman-Fried as the crypto knight in shining armor. Moreover, he does lobbying activities in Washington more than once a month.
Not everyone is of the same opinion
However, not everyone present agrees with Bankman-Fried’s optimism about the regularization of cryptos. These people include Mike Novogratz and Tom Farley. Indeed, they were skeptical of the idea that Washington would change for the better in the near future.
Novogratz points to the SEC’s regulation-by-app which has been heavily criticized by industry leaders. Farley also states that the crypto industry is not getting clarity from the SEC and CFTC. “ We’ll manage here, at least in the United States. »said Farley
Note that the SALT will take place until September 14 in New York.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service ofdaily and weekly so you don’t miss any of the essential Tremplin.io!