The White House and some U.S. lawmakers have called for tighter regulation of cryptocurrencies following the collapse of cryptocurrency exchange FTX.
White House press secretary Karine Jean-Pierre said in a Thursday news conference on the FTX crisis that the administration has always believed that cryptocurrencies, if not properly monitored, have the potential to harm the daily lives of Americans, which is clearly what we all know. Monitoring, we think this is an important issue.
Pierre added that recent news further underscores these concerns and highlights why prudential regulation of cryptocurrencies is indeed needed. The White House, along with relevant agencies, will again closely monitor developments.
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