The American regulator proposed to tighten control over the crypto market due to the bankruptcy of FTX
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The Chairman of the Commodity Futures Trading Commission (CFTC) of the United States, Rostin Binam, called for the transfer of authority to regulate the cryptocurrency market to his office as soon as possible in order to avoid stories like the collapse of FTX in the future. Mr. Binam stated this during the first hearing in the US Senate in the case collapsed cryptocurrency exchange. “I am concerned about the gap that exists now. If we do nothing, clients will continue to lose money, and we will meet here again in a couple of months, ”said the head of the CFTC.
Mr. Binam, a few months ago, actively advocated for the CFTC to deal with the regulation of the cryptocurrency market. In August, Mr. Binam, as well as Senators Debbie Stabenau and John Boozman, introduced a bill to transfer powers to regulate the cryptocurrency market to the CFTC. “When exchanges receive customer funds to trade, they should not be allowed to gamble with those funds,” committee chair Debbie Stabenau said. loans. And they shouldn’t be allowed to make deals with themselves.” According to Ms. Stabenau, the bill to transfer the role of the regulator of the cryptocurrency market to the CFTC will solve the problems that led to the collapse of FTX.
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