WASHINGTON (Reuters) – U.S. Deputy Treasury Secretary Wally Adeyemo said on Thursday that the collapse of Bahamas-based cryptocurrency exchange FTX showed the United States needed to work with other countries to develop effective international regulations for the crypto industry.
Adeyemo told the Reuters NEXT conference that it is important to have a regulatory regime in place to protect investors, consumers and financial stability and to stop illicit use of cryptocurrencies. Because FTX is not a U.S.-based company, it had to expand, he said.
“This is a global phenomenon. This means we will have to work closely with our international partners to design a regulatory regime. A framework can help We make sure that we protect the global economy when we think about innovations like cryptocurrencies,” Adeyemo told Reuters NEXT. and December 1, click here [https://www.reuters.com/world/reuters-next/]