UK lawmakers were unconvinced by the evidence presented regarding Binance’s role in FTX’s downfall.
The UK Parliamentary Committee held a hearing on the process of collapse following the collapse of FTX.
UK Attorneys Not Convinced
Treasury Committee member Alison Thewliss said in an interview with Bloomberg:
“It doesn’t give us any real background details. I’m sure the committee will ask more questions to get the details of what happened here. Because this collapse has broader implications for the crypto industry as a whole.”
Binance responded to a question about its role in FTX’s collapse by sharing a series of news articles of FTX-related leaks.
Thweliss stressed in a statement that recommendations for crypto regulations in the country regarding Binance and the FTX investigation will be affected.
Lawmakers are working on broader rules for digital assets. The FCA is currently responsible for issuing licenses to crypto companies based on anti-money laundering compliance. With the new regulations, the FCA will have broader control over crypto.
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