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FTX CEO Quits Crypto Policy Debate, Allows Crypto Twitter to Carryon

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FTX CEO Sam Bankman-Fried has hinted that he is no longer interested in discussing crypto policy.he has his intentions twitter thread Share on weekends.

“Get behind the wheel, Crypto Twitter,” says Bankman-Fried after a heated debate in the comments section of the Twitter thread.

While cryptocurrency users await the federal regulatory framework, Bankman-Fried guidelines His publication received a lot of backlash from some key industry players to implement in the press bulletin that must be followed to protect and clarify their rights in the digital industry.

Bankman-Fried lobbied Congress to approve a market regulation bill introduced by Senators Debbie Stabenow of Michigan and John Boozman of Arkansas. Commodity Futures Trading Commission (CFTCs) would have expanded its regulatory authority over crypto exchanges under the Digital Goods Consumer Protection Act.

The bill appears to be an act that is seen as detrimental to DeFi, which is primarily a sector of blockchain-based solutions.

In a Twitter thread, Bankman-Fried urged ShapeShift CEO Erik Voorhees to fight for what is right and make his voice heard. He also encouraged everyone to fight for their right to freedom, the functioning of the economy and the highly scalable power of Decentralized Finance (DeFi).

Blockchain industry opposition

Bankman-Fried is not the first individual or entity to receive backlash after proposing a crypto policy.

Blockchain jobs in the US and Canada

For example, South Korean financial authorities oppose to the Busan City proposal to provide special regulatory support to foreign crypto businesses setting up digital asset exchanges.

The Federal Deposit Insurance Corporation (FDIC), a US government agency tasked with maintaining the financial system in the event of bank failures, has dispatched five crypto-related firms, including FTX US. letter of cancellation Demanding that customers stop making false and deceptive claims about the availability of deposit insurance for their customers is another model that can demonstrate opposition to the policy.

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