The executives argued that cryptocurrencies don’t fit neatly within the existing structure of U.S. financial regulations and that lawmakers should consider tailor-made legislation for their industry. Critics say the industry wants to write its own rules to avoid the oversight that banks, brokers and stock exchanges face.
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Crypto executives defend industry as congress considers oversight
“The industry has the potential to improve a lot of people’s lives,” FTX Trading Ltd. Chief Executive Sam Bankman-Fried told lawmakers.
