The collapse of cryptocurrency exchange FTX is proof digital assets markets need “very careful regulation,” US Treasury Secretary Janet Yellen said.
of the once-respected cryptocurrency exchange FTX is proof digital assets markets need “very careful regulation,” US Treasury Secretary Janet Yellen said.Investors are better protected in developed financial markets, she added.
“In other regulated exchanges, you would have segregation of customer assets,” she said. “The notion you could use the deposits of customers of an exchange and lend them to a separate enterprise that you control to do leveraged, risky investments — that wouldn’t be something that’s allowed.”in the implosion of FTX.At least $1 million is customer funds are missing.
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