The same old conversations are happening about what new rules have to be enacted to forestall one other FTX. Whereas it’s apparent one thing must occur, expertise makes clear that the present regulatory regime just isn’t properly outfitted to forestall these occasions. Certainly, even when the Securities and Alternate Fee, for instance, did have the data and agility required to adequately regulate Web3, its attain extends solely to the bounds of its jurisdiction and, as we now have seen with the Bahamas-based FTX, that attain was too quick by about 150 miles.
