The White House hints at prioritizing crypto regulations in response to the ongoing situation with FTX
The White House said the administration of United States President Joseph Biden is monitoring the situation with the recent crypto market crash but deferred to independent regulators for any potential enforcement actions.Biden was aware of the ongoing situation with the crypto market, hinting at FTX’s liquidity crisis. According to the press secretary, the administration and financial agencies will “closely monitor” developments.
“The administration [...] has consistently maintained that without proper oversight, cryptocurrencies risk harming everyday Americans,” said Jean-Pierre. “The most recent news further underscores these concerns and highlights why prudent regulation of cryptocurrencies is indeed needed.”The statement from the executive branch was the latest response in a string of reactions from financial regulators and lawmakers in the United States.
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