Investors might have avoided FTX if the SEC had addressed Bitcoin ETFs, says BitGo CEO

The inaugural hearing of the Subcommittee on Digital Assets, Financial Technology and Inclusion included discussions on FTX and the roles of the SEC and CFTC on crypto.

Highlights

• The House subcommittee hearing was the first in the new session of Congress to address issues related to the crypto market.
• The collapse of crypto exchange FTX and other bearish events in the space were at the center of discussions among lawmakers and witnesses at the hearing.
• BitGo co-founder and CEO Mike Belshe criticized the U.S.
• Securities and Exchange Commission for enforcement actions against crypto firms “trying to do it right” The hearing’s title called its actions an “attack on the digital asset ecosystem.” Other witnesses were critical of crypto as a whole rather than focusing on blaming any single agency, political party or presidential administration.

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