In many countries, cryptoassets are lightly regulated compared with other financial sectors, with few protections for consumers. The head of the world’s biggest cryptocurrency exchange [binance] has told global leaders new regulations are needed. Mr Zhao said the recovery fund for otherwise strong companies unable to find enough cash, or assets that can be easily converted into cash, to cover their immediate needs – would reduce the risk of “cascading negative effects” following FTX’s bankruptcy. Do you think that the governments need to start regulating the industry seriously ?
