SBF: Ib qho 'Balanced Edge' Crypto Regulatory System

According to Sam Bankman-Fried, CEO of FTX, the leading cryptocurrency derivatives firm, cryptocurrency regulation is now at the limit.

SBF said in a Decrypt podcast: "It's a great honor to be the leader in cryptocurrency thought management and to see all aspects of the process up close. Interestingly, it has a huge impact on the ecosystem.

As one of the few young billionaires in the cryptocurrency space, SBF may have been considering the rules over the next few months. In December, he was one of the cryptocurrency CEOs sitting in Congress. After a while,He told Decrypt that he thinks the focus of 2021 will be on managing for success, not the company's large-scale consumer growth or expanding the real estate market.

The SBF moved from Hong Kong to the Bahamas in September in search of simpler rules for dealing with US lawmakers. “The Bahamas has real cryptocurrency regulation. And there are a few places in the world right now. Almost every place in the state is boiling and uncertain now,” he said in a podcast. .

Despite being "frustrated and uncertain," the SBF insisted that his congressional experience was invalid. "I've always felt a bit of love," SBF said in an interview with Decipher.

Many cryptocurrency enthusiasts are unhappy with the US government's cryptocurrency policies, especially after the infamous $1.2 trillion infrastructure package that includes tax payment terms with the cryptocurrency brokers. However, SBF believes it is "very good and necessary" to join Congress in discussing crypto. "I think there are a lot of agents out there, and most of them aim to ask questions that will help you get there and identify what's going on in the cryptocurrency space," a- he added.

Cryptocurrency rules in the United States

When Gary Gensler became Chairman of the United States Securities and Exchange Commission (SEC), many crypto experts saw him as a friend in crypto because he introduced blockchain technology to MIT. But so far, that is not the case.

Since becoming SEC Chairman, Gensler has spoken a few words that have offended crypto investors, including that cryptocurrencies are unprofitable, encourage fraud, and that many tokens appear to be safe unregistered. He also asked Senator Elizabeth Warren to strengthen consumer protection rights for cryptocurrencies.

However, the cryptocurrency market has some government backers, including Bitcoin Senator Cynthia Lummis, who asked last month to choose a new regulator to focus on the market.

Will America Remember Crypto's 'Baked Duck'?

While encryption has become a source of controversy for members of Congress as a negative voice for the industry, SBF still believes that the United States could move to a more inclusive encryption solution. .

"Over the past four years, most cryptocurrencies have flowed overseas due to regulations," he said in his office in the Bahamas. in exchange.

However, he said, "I'm wary of the positive and thought 'cautious,' because crypto can go the opposite way, and it could be on the shore." We're amazed at the rise . Do your best to help us. Achieving our goals will now be our top priority."

Note: Offshore financing (offshore) refers to financial transactions carried out by financial institutions in a country, but does not interfere with the national economy and is not governed by the financial system. national financial policy.) refers to the economy. It is a place where residents and non-residents of the city share financial and economic issues, regional representatives are foreign traders, the code and the climate of international trade.