Hi, it’s Edmund.
One of the biggest stories that hit global news headlines last week was the FTX saga, which roiled the crypto market.
The Bahamas-based cryptocurrency exchange, one of the biggest players in the market for digital assets, filed for bankruptcy in the US. Its collapse was triggered after serious questions were raised about the health of its balance sheet.
The fiasco soon sparked a massive regulatory response in the US as lawmakers, regulators, and criminal investigators launched investigations into the company.
This move should surprise no one. Crypto regulation is long overdue.
There is currently no official crypto regulation in the US. Earlier this year, the EU finalized sweeping rules in a landmark deal to regulate the crypto industry in the bloc.
Anton Katz, co-founder and CEO of Talos, a New York-based crypto trading platform that provides digital asset management tools for investors, exchanges, and custodians, believes that regulatory clarity is good for the crypto ecosystem. But regulation has to make sense while not stifling innovation.
Read more about what he has to say about the world of crypto here.
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