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Home›Crypto›Regulation›CFTC chair says new rulemaking would avert another FTX…

CFTC chair says new rulemaking would avert another FTX-style collapse

Mike Selig said crypto exchanges would be able to register with the CFTC to safeguard digital asset spot markets.

Reported · Written up by our desk · Regulation

Bitcoin Magazine reports that CFTC Chair Mike Selig said the regulator wants stringent crypto rules and is pushing new rulemaking to prevent another collapse like FTX.

Selig said crypto exchanges would have the opportunity to register with the CFTC to help safeguard digital asset spot markets, according to Bitcoin Magazine.

The outlet notes that FTX went bankrupt in 2022 after mismanagement, and that Sam Bankman-Fried is serving 25 years in prison after $8 billion in customer funds was stolen.

Bitcoin Magazine also said regulators are moving forward with rulemaking for the crypto space despite lawmakers last month.

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Sources

Bitcoin MagazineCFTC Chair Says New Crypto Rulemaking Will Prevent Another FTX-Style Collapse

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