Investment News: Crypto Space Braces for Double-Edged Sword of Regulatory Oversight in FTX’s Wake
November 15, 2022
United States regulators may be more inclined to provide additional clarity and direction across the cryptocurrency landscape following the crash of FTX. William K. Pao, head of the fintech group at O’Melveny & Myers LLP, believes “regulators will be emboldened by what has happened to FTX,” adding that “very few people will be in a position to push back” against regulators. Pao also noted that agencies “have been trying to balance protecting consumers with encouraging innovation. This may disrupt that. With so many people losing so much money, regulators will swing way over to the protection side.”
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