Our co-founder Jaclyn was recently interviewed by TVBS on FTX’s bankruptcy. She briefly explained the criminal and civil offenses that Sam Bankman-Fried, the founder of FTX, has violated, including several counts of fraud. Regarding virtual asset service providers (VASPs) in the US, Jaclyn interpreted the statement from the Chair of the US Securities and Exchange Commission(SEC) as saying that there is no need to pass new laws specifically addressing cryptocurrency because the FTX issue was caused by inadequate enforcement of the current regulations. As such, the SEC is expected to strengthen its enforcement of the relevant regulations.
The full interview: https://www.youtube.com/watch?v=kEanCd26NWE&list=PLfxZLltrCy7IlxYa3BSekTL2l2fMNrIUa&index=28