FTX collapse could trigger ‘appetite' for harsher regulation, says Andrew Yang

FTX collapse could trigger ‘appetite’ for harsher regulation, says Andrew Yang


Calls for harsher regulations around cryptocurrencies and digital assets will likely grow louder in the aftermath of FTX’s collapse — something former United States presidential candidate Andrew Yang said isn’t conducive to making America a hotbed for blockchain innovation. 

Speaking at the Texas Blockchain Summit in Austin on Nov. 18, Yang acknowledged that the bankruptcy of FTX and sister company Alameda Research would make common sense crypto regulation harder to pass in the short term.

“I’ve always been in the camp that some intelligent regulation is a good thing. I think it would help the industry mature and make it more mainstream. But, unfortunately, we missed a beat — like a major beat,” he said, referring to the collective failures of FTX, FTX US and Alameda Research.

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