Sen. Pat Toomey bemoaned how slowly US crypto trading laws are being passed.

The Pennsylvania Republican said on Friday that the SEC’s hostility and lack of transparency, together with the inability to enact regulatory safeguards, had created a devastating amount of legal ambiguity.

Pat Toomey said that the effect of the bankruptcy on Americans might have been lessened if there had been a sensible, legally valid, American regulatory framework for digital assets.

The remarks follow a turbulent week for the cryptocurrency industry and shocking information about one of the biggest crypto exchanges in the world.

The FTX is now the subject of an investigation by US law enforcement. There are still rumors that the exchange is purposefully holding onto user funds.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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crypto

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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News

Sen. Pat Toomey Needs A Reasonable Legal Framework After FTX’s Fall

Sen. Pat Toomey bemoaned how slowly US crypto trading laws are being passed.

The Pennsylvania Republican said on Friday that the SEC’s hostility and lack of transparency, together with the inability to enact regulatory safeguards, had created a devastating amount of legal ambiguity.

Congress’ failure to pass legislation creating regulatory guardrails for crypto trading, combined with the complete hostility and lack of transparency by @SECGov, has generated a debilitating amount of legal uncertainty.

— Pat Toomey (US Sen. ret.) (@SenToomey) November 12, 2022

Pat Toomey said that the effect of the bankruptcy on Americans might have been lessened if there had been a sensible, legally valid, American regulatory framework for digital assets.

The impact to Americans from today’s bankruptcy filing by @FTX_Official might have been mitigated if there were a sensible, legislatively authorized, American regulatory framework for digital assets.

— Pat Toomey (US Sen. ret.) (@SenToomey) November 12, 2022

The remarks follow a turbulent week for the cryptocurrency industry and shocking information about one of the biggest crypto exchanges in the world.

The FTX is now the subject of an investigation by US law enforcement. There are still rumors that the exchange is purposefully holding onto user funds.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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