CFTC Chairman Selig: Proposed crypto regulatory framework aims to prevent FTX-style risks

PANews October 9 news: CFTC Chairman Mike Selig posted that the CFTC's proposed crypto asset regulatory framework is intended to protect exchange customers from risks such as fraud, market manipulation, and misappropriation of customer funds, and to avoid a repeat of the FTX incident. He criticized voices opposing market-based regulation and advocating maintaining the status quo, arguing that this could leave room for similar risks. The framework is still a proposed plan at present.