SEC Chair Gensler advocates legal compliance for potential FTX revival, urges vigilance against Crypto Fraud, and reviews ongoing Industry Lawsuits. Read more on CT.
- Gary Gensler hints at the potential revival of FTX, providing new leadership adheres to legal regulations in response to Tom Farley's interest.
- The SEC Chair emphasizes the importance of trust-building and adherence to legal standards in the crypto industry.
- Tom Emmer questions SEC's handling of platforms like Voyager, Celsius, Terra-LUNA, and FTX, alleging a regulatory monopoly without evidence.
In a recent development, SEC Chair Gary Gensler expressed openness to the potential revival of the cryptocurrency exchange FTX under the condition that its new leadership adheres strictly to legal regulations. Gensler's remarks came in response to reports of Tom Farley, former president of the New York Stock Exchange, considering the purchase of the bankrupt exchange originally founded by convicted fraudster Sam Bankman-Fried.
According to a recent report, Gensler emphasized the importance of operating within the bounds of the law in the cryptocurrency field, stating:
If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the law,’. Build the trust of investors in what you’re doing and ensure that you’re doing the proper disclosures — and also that you’re not commingling all these functions, trading against your customers. Or using their crypto assets for your own purposes.
Read full article at CryptoTale.