The collapse of the beleaguered crypto trading platform, FTX Derivatives Exchange has pushed top government officials, including Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC) to weigh in on the digital currency ecosystem.
Speaking in an interview with CNBC, Gensler said he has reiterated time and again that investors need adequate protection. He bemoaned the fact that despite the clear regulations that is existent in the industry, most players are still very much non-compliant to the rules.
“I think that investors need better protection in this space. It’s a field that’s significantly non-compliant, but it’s got regulation,” he said.
For FTX, the SEC boss said the fact that the company has a huge influence in the space in which it has a number of top-profile celebrities including Kevin O’Leary, Tom Brady, and Steph Curry as its ambassadors gives it a massive sway over investors.
In his view,…
