Wally Adeyemo of the US Treasury Department said that what happened with FTX shows the importance of regulations.
Deputy Secretary of the Treasury Wally Adeyemo stated that regulations are important for protecting investors and consumers and ensuring financial stability.
Wally Adeyemo Draws Attention to Regulations
The Deputy Secretary of the Treasury said that the collapse of Bahamas-based FTX shows that the United States must work with other countries to create international crypto regulations.
Speaking at the Reuters NEXT conference in Washington DC, Adeyemo said that doing so is important for consumers and global financial stability, as well as to prevent the illegal use of cryptocurrencies.
The Assistant Secretary of the Treasury said:
“Crypto is a global phenomenon. This means that we need to work closely with our international partners to design a regulatory regime within a framework that will help us protect the global economy while considering innovations such as cryptocurrency.”
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