The relevant head of CFTC said that financial regulatory organizations around the world should coordinate to properly regulate the encryption field.

In a new interview with CNBC, Rostin Behnam, Chairman of the CFTC, called on the financial industry regulatory authorities to carry out international coordination to protect customers and ensure the stability of the market in the encryption field.

"This is a very big problem. Chairman of the Stock Exchange Association (SEC)], I have participated in many multilateral cooperation institutions with other jurisdictions, and encryption and encryption regulation have been the top priority for several years. There is no mistake. Whether in the securities market or derivatives market, the borderless nature of this technology makes it more difficult than traditional financial markets.

Naturally, the exchange market is very international in nature, but international regulatory organizations must coordinate among them. However, in the end, the establishment of a regulatory structure in the United States (which I think must be a priority) will adopt laws and regulations (whether in civil litigation or criminal cases) to block such foreign investors, and such trading centers will provide services to American users. "

Behnam and other American regulatory platforms faced problems after the collapse of the FTX trading center. The Chairman of the CFTC said that this event is likely to help senior officials to finally decide the difference between securities and products, which is also a long-term problem in encryption regulation.

"The problems that really resonate are safety and products. I think what happened in the past week should be seen as a problem that will cause plasticity to achieve the goal. We can solve these problems."

Behnam also briefly introduced the legal risks Sam Bankman Fried will face after the collapse of FTX.

"At this stage, many reports show that market control and disciplinary violations will go beyond this."

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