Crypto-asset trading platform FTX has published a regulatory framework proposal for cryptoassets. As we reported earlier, Congress will hear from CEO Sam Bankman-Fried about crypto assets next week.
FTX has released a list of what it hopes to see in US crypto-asset regulation. List, “that it will work out best for investors and indeed the public” listed ten principles he believed in and planned to abolish bureaucracy.
As it is known, not only one institution deals with crypto asset regulations in the USA. Although the U.S. Securities and Exchange Commission (SEC) has primary jurisdiction over securities that include many tradable digital assets, the Commodity Futures Trading Commission (CFTC) also deals with derivatives such as Bitcoin futures. At this point, FTX recommends moving away from a piecemeal approach and allowing crypto trading platforms to choose a single regulator.
Coinbase and Binance, other leading crypto-asset trading platforms, also proposed a regulatory framework for cryptoassets.