US CFTC Chair: Opponents of Crypto Regulation Proposal Are Opening the Door for the Next SBF

Foresight News reports that Mike Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), tweeted that the CFTC's proposed crypto asset regulatory framework aims to establish a federal oversight system designed to protect exchange customers from fraud, manipulation, and theft of customer funds, as seen in the FTX incident. He stated that, ironically, critics who condemn the CFTC's market-based regulatory approach for crypto exchanges and advocate for maintaining the status quo are effectively siding with fraudsters, manipulators, and exploiters, dangerously paving the way for the next SBF to harm the American public.