Since the start of the FTX affair, reactions have multiplied both within the crypto industry and at the level of the authorities. After Senator Cynthia Lummis, it’s the White House’s turn to add its two cents. As in the majority of previous reactions, the White House has built its point of view around the question of regulation.
The ” need ” prudent crypto regulation
On Thursday, November 10, the White House press officer, Karine Jean-Pierre, hosted a new press briefing. The exchanges essentially revolved around national security. But the burning question of the situation of FTX also furnished the exchanges. The official said President Joe Biden is aware of the matter. She added that in view of the situation, careful regulation of cryptos has become necessary. Furthermore, she reaffirmed that the administration and the financial agencies will “closely monitor the evolution of the situation and the market”.
“The US administration has consistently maintained that without proper oversight, cryptos risk harming Americans…The most recent news highlights these concerns even further and highlights why careful regulation of cryptos is indeed necessary”has she affirmed.
Washington therefore relies on regulators and parliamentarians. Pending regulation, on November 10, Maxine Waters, chair of the House Financial Services Committee, called for additional federal oversight of crypto exchange platforms and consumer protections. It is believed that without regulation, the efforts made so far do not produce optimal results.
The FTX affair had a knack for bringing the need for clear regulation for cryptos back into the spotlight. So far, the issue of urgency has generally been weakly addressed, say members of the community on social networks. On Twitter, the latter said they were convinced that the shock wave of the FTX affair will accelerate the efforts.
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