FTX CEO Sam Bankman-Fried Shares His Position on Crypto Regulations

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FTX CEO Sam Bankman-Fried Shares His Position on Crypto Regulations
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The community is not exactly thrilled by the new draft proposed by SBF.

FTX CEO Sam Bankman-Fried posted a draft of a set of standards to create clarity and protect customers as the US awaits full federal regulatory regimes.

OFAC or a responsible actor should also keep a real-time updated on-chain list of sanctioned addresses to ensure crypto entities avoid transferring funds to or accepting funds from them. Additionally, SBF suggested the need to cure the recipient address if flagged funds from sanctioned addresses are unilaterally sent to it. Meanwhile, trusted actors in the digital asset ecosystem should have their on-chain list of addresses that are suspected to be associated with financial crime.

For the FTX CEO, decentralized finance has been the “trickiest” area to get right. He proposed a rough regulatory heuristic to use with the space that involves no oversight for uploading code to the blockchain.

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