Sam Bankman-Fried Could Back Off Lobbying For Crypto Legislation

Sam Bankman-Fried has been entangled in a debate about crypto policy regulation for days. Last week, he released a long crypto policy blog that was received with derision by several industry insiders. Bankman-opinions Fried’s on how to control decentralized financing ventures, particularly irritated critics.

As a result, the FTX CEO may reconsider campaigning for crypto legislation, he indicated days after triggering a controversial policy discussion.

In a Twitter discussion, Bankman-Fried stated.

On Friday, Sam Bankman-Fried debated ShapeShift CEO Erik Voorhees for two hours. The crypto podcast Bankless sponsored the live-streamed event. A day later, Bankman-Fried stated that he would leave the future of the crypto policy discussion to others online, even if he disagreed with their positions.

Sam Bankman-Fried has lobbied senators behind the scenes to adopt a market regulation measure introduced by Sens. Debbie Stabenow, D-Mich., and John Boozman, R-Ark.

The Digital Commodities Consumer Protection Act would grant the Commodity Futures Trading Commission greater regulatory authority over cryptocurrency exchanges. A new legislative draft would also allow for a decentralized financial study to impact future decisions.

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