FTX Collapse Lost Billions!

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Regulators Set to Target Crypto Sector After Major Platform Crashes

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NEWS The collapse of the FTX exchange has increased the urgency for regulating the cryptocurrency industry.

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NEWS The new chair of the international securities watchdog IOSCO stated in an interview that the focus for 2023 will be on such "conglomerate" platforms.

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NEWS FTX's implosion, which left an estimated one million creditors facing losses totalling billions of dollars, has drawn regulators' attention.

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NEWS That being said, the implosion at FTX will help change that as it serves a solution to a bigger problem, Servais told Reuters.

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NEWS "We know there is some space for developing new standards about supervision of this kind of crypto conglomerates. There is an obvious necessity," Servais said.

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