1. BITBILIHome
  2. Article

Former FTX US president speaks on US crypto legislation hopes

• 54 views

TL;DR Breakdown

  • Brett Harrison, CEO of Architect and ex-president of FTX US, is cautiously optimistic about US consensus on digital asset legislation.
  • Harrison discussed the challenges regulators face in the digital asset domain.
  • Harrison believes no single US agency should dominate crypto policy due to its multifaceted nature.

Description

Brett Harrison, the founder and CEO of Architect and former president of FTX US, has expressed cautious optimism regarding the potential for US politicians and regulators to reach a consensus on effective and equitable legislation for digital assets. Speaking at a panel discussion at the Mainnet conference in New York on Thursday, Harrison emphasized the … Read more

Brett Harrison, the founder and CEO of Architect and former president of FTX US, has expressed cautious optimism regarding the potential for US politicians and regulators to reach a consensus on effective and equitable legislation for digital assets. Speaking at a panel discussion at the Mainnet conference in New York on Thursday, Harrison emphasized the complexities regulators face in the evolving digital asset landscape.

Harrison, who established Architect this year, highlighted the challenges and responsibilities of regulatory agencies, especially when things go awry, referencing the downfall of FTX last year. He stressed the importance of accountability to the public by these agencies in such situations. According to Harrison, the current focus should be on preventing the recurrence of such unfavorable situations rather than on innovation.

This week marked a significant development for Architect, as the firm secured a National Futures Association introducing broker license for regulated derivatives. This achievement exempts the company from the oversight of the Commodity Futures Trading Commission (CFTC), authorizing it to facilitate orders to trade futures contracts. However, the firm is restricted from conducting such trades in fiat money or other assets.

In a post on X, formerly known as Twitter, Harrison stated that the derivatives markets necessitate modern and secure technological entry points, designed to accommodate the diverse range of products they encompass, both physical and digital. He believes this is essential to enhance and expand institutional participation.

Harrison, who left FTX.US in September 2022, months before the collapse of its parent company in November, shared insights on the multifaceted nature of crypto policy in the United States. He argued against a single government agency, such as the CFTC or the Securities and Exchange Commission (SEC), having primary control over crypto policy, citing the possibility of multiple assets and business aspects falling under joint jurisdiction.

Harrison emphasized that the forthcoming elections hold substantial implications for the progression of the business on Capitol Hill. He added that the prioritization of crypto policy in the upcoming year is contingent on the prevailing political dynamics.

Moreover, Harrison’s insights reflect a broader perspective on the evolving relationship between the crypto industry and regulatory frameworks. The dialogue at the Mainnet conference underscored the need for a balanced and informed approach to legislation that considers the intricacies of digital assets while ensuring accountability and public interest.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Former FTX US president speaks on US crypto legislation hopes

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月24日 17:45
Next 2023年9月24日 18:40

Related articles

  • JP Morgan foresees Ether’s ascendancy following the release of the pivotal Hinman documents

    TL;DR Breakdown JP Morgan’s analysis highlights the impact of the Hinman documents on the Ripple vs. SEC case. The documents reveal a distinct category of assets, including Ether, that don’t meet traditional security criteria, creating a regulatory void. Ether’s decentralization and SEC’s leniency suggest it could be classified as a commodity like Bitcoin, boosting its market position and regulatory resilience. Description June 12 marked a pivotal moment in the ongoing battle between Ripple and the U.S. Securities and Exchange Commission (SEC) with the release of the much-anticipated Hinman documents. It is essential to note that the SEC had initially hoped to keep these documents sealed, but the presiding judge denied this motion, leading to their public … Read more June 12 marked a pivotal moment in the ongoing battle between Ripple and the U.S. Securities and Exchange Commission (SEC) with the release of the much-anticipated Hinman documents. It is essential to note that the SEC had initially hoped to keep these documents sealed, but the presiding judge denied this motion, leading to their public disclosure. Named after William Hinman, the…

    Article 2023年6月21日

  • Digital Euro faces delay—here’s why

    TL;DR Breakdown The EU has postponed the publication of legislation supporting the digital euro following a leaked draft bill and concerns raised by finance ministers. The draft bill addresses privacy and technical issues related to the central bank digital currency (CBDC). The delay allows refinement and deliberation, allowing policymakers to address concerns and ensure the digital euro aligns with the economy’s and citizens’ needs. Description The implementation of a digital euro, a central bank digital currency (CBDC), is facing a setback as the European Union (EU) has decided to postpone the publication of the legislation required to support its development. This delay comes after a leaked draft bill addressing privacy and technical concerns regarding the CBDC and statements made by … Read more The implementation of a digital euro, a central bank digital currency (CBDC), is facing a setback as the European Union (EU) has decided to postpone the publication of the legislation required to support its development. This delay comes after a leaked draft bill addressing privacy and technical concerns regarding the CBDC and statements made by finance ministers…

    Article 2023年6月22日

  • Court Temporarily Blocks Consent for Additional Charges in SBF’s US Indictment

    TL;DR Breakdown Bahamian court temporarily blocks consent for extra charges in the US indictment against Sam Bankman-Fried, co-founder of FTX. The decision introduces potential trial delays and adds uncertainty to the legal proceedings, creating a twist in the high-profile case. In a recent twist to the ongoing legal battle surrounding cryptocurrency entrepreneur Sam Bankman-Fried, a Bahamian court has issued a temporary order blocking the government from granting consent to additional charges added to Bankman-Fried’s US indictment. The FTX co-founder had sought the dismissal of these charges, arguing that they were not part of his agreement to return from the Bahamas to face US prosecution.  Contents hide 1 Bahamian Court Grants Sam Bankman-Fried Review of US Charges 2 Uncertain Impact on US Prosecution as Bahamian Decision Raises Possibility of Delay 3 Bankman-Fried’s Legal Strategy and Background on the Case 4 Conclusion Bahamian Court Grants Sam Bankman-Fried Review of US Charges In a recent development in the legal saga surrounding cryptocurrency entrepreneur Sam Bankman-Fried, a Bahamian court has issued a temporary order blocking the nation’s government from consenting to charges added to…

    Article 2023年6月17日

  • Europe’s neglected key to economic security

    TL;DR Breakdown Europe needs to boost domestic demand to ensure economic security, following examples set by the US and China. The European Commission’s new economic security strategy focuses on enhancing competitiveness and deepening the single market. Resolving Europe’s economic risks requires both political and corporate consensus. Description Economic robustness is the lifeline that ensures both individual and corporate freedom, and the same principle extends to nations. Europe, known for its economic resilience, is realizing the necessity of bolstering its financial strength to ensure self-determination. Europe’s new economic security strategy The European Commission has taken a step forward, proposing a new economic security … Read more Economic robustness is the lifeline that ensures both individual and corporate freedom, and the same principle extends to nations. Europe, known for its economic resilience, is realizing the necessity of bolstering its financial strength to ensure self-determination. Europe’s new economic security strategy The European Commission has taken a step forward, proposing a new economic security strategy that places the enhancement of competitiveness and the deepening of the single market as its foremost priority. This strategy…

    Article 2023年7月5日

  • Tether blacklists scammer after $20 million theft

    TL;DR Breakdown Tether has blacklisted a wallet belonging to a scammer who stole $20 million worth of USDT. The growing trend of zero transfer phishing scams. Description On August 1, a scammer successfully executed a zero transfer phishing attack, stealing $20 million worth of USDT (Tether’s stablecoin) before being blacklisted by the issuer, Tether. The incident was reported by on-chain analytic firm PeckShield, shedding light on the growing concern about such scams in the crypto ecosystem. Tether froze the wallet after detecting … Read more On August 1, a scammer successfully executed a zero transfer phishing attack, stealing $20 million worth of USDT (Tether’s stablecoin) before being blacklisted by the issuer, Tether. The incident was reported by on-chain analytic firm PeckShield, shedding light on the growing concern about such scams in the crypto ecosystem. Tether froze the wallet after detecting the theft The victim of the scam, with the wallet address 0x4071…9Cbc, intended to send money to the address 0xa7B4BAC8f0f9692e56750aEFB5f6cB5516E90570. However, due to the scammer’s intervention, the funds were sent to a phishing address, 0xa7Bf48749D2E4aA29e3209879956b9bAa9E90570. The scam unfolded when the…

    Article 2023年8月2日
TOP