Are We Still Pushing On Cryptocurrency Regulation Thought We Are In Dead End

The cryptocurrency regulation issue has been something we didn’t pay close attention to until the collapse of a centralized exchange FTX, which legislators and other affected individuals are pushing for the regulation of the cryptocurrency is general.
The council who consist of some member’s of the U.S securities and exchange commission and the federal deposit insurance corporation is pushing to the US state congress to regulate cryptocurrency spot market.

source

In a statement which they are clearly saying that these crypto assets are not securities and the urge the congress of looking into regulating it. A statement made which says;

“As a result, those markets may not be subject to a regulatory framework designed to ensure orderly and transparent trading, prevent conflicts of interest and market manipulation, and protect investors and the financial system more broadly. To address this regulatory gap, the Council recommends that Congress pass legislation that provides for explicit rulemaking authority for federal financial regulators over the spot market for crypto-assets that are not securities. The Council recommends that this rulemaking authority should not interfere with or weaken market regulators’ current jurisdictional remits. Legislation should provide for enforcement and examination authority to ensure compliance with these rules.”

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