Regulators all over the world have cowered due to the FTX collapse which has caused a further plunge in the digital asset market.
Therefore, there is a call for stricter regulations for cryptocurrencies and their industry. Presently, the Biden administration is reemphasizing its call for more regulations and legislation around digital assets in the United States.
According to White House Press Secretary Karine Jean-Pierre, the Biden administration has never failed to remind its citizens of the impending risk and uncertainty associated with trading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and others due to their volatility and exposure to cyber crimes. Using FTX implosion as a yardstick, Jean-Pierre reiterated the need for core crypto regulations.
“The administration has consistently maintained that without proper oversight cryptocurrencies risk harming everyday Americans,” Jean-Pierre said during a White House press…
