‘FTX and cryptocurrencies are not the same thing,’ says Republican defender. ‘The code committed no crime.’

The cryptocurrency industry got a strong defense Wednesday from a key Republican, who urged his fellow lawmakers to separate it from the debacle at crypto platform FTX and to regulate the industry instead of destroying it.

“FTX and cryptocurrencies are not the same thing,” said Sen. Pat Toomey of Pennsylvania during a Senate Banking Committee hearing on the FTX bankruptcy. “The code committed no crime,” he said.

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Sleazy politician with his hand out!!!

It’s supposed to be a decentralized democratic currency of the people. If it’s heavily regulated what’s the point?

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SBF denied bail, and U.S. senators take aim at FTX and crypto industry: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Kraken's incoming CEO Dave Ripley reacts to the implosion of FTX and discusses what he believes is in store for the future of the industry. Do people really give their hard earned money to these WS criminals? For what? The markets have basically turned into a computerized organized crime ring, high speed casino, not just crypto
Source: CNBC - 🏆 12. / 72 Read more »