Former CFTC Chairman Chris Giancarlo said at the Crypto Bahamas hosted by FTX that the current regulatory framework for cryptocurrencies in the U.S. is not fit for purpose.
When rating current U.S. cryptocurrency policy, Chris Giancarlo gave it a score of 0, stating that the current regulations are those created 90 years ago.
Mark Wetjen, the former acting head of CFTX and now the head of legal policy and regulatory strategy at FTX, said that there are some obstacles in the current regulations, and what really matters is that people at the top need to embrace the crypto industry more actively.
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