Intercontinental Exchange chief Jeffrey Sprecher has not convinced that new laws are needed to govern crypto trading.
“The laws already exist and I think they are just going to be implemented more strongly, “The ICE chief said.
Speaking at a conference, Sprecher-whose ICE operates the New York Stock Exchange-said crypto assets are going to be regulated and dealt with like securities.
Most cryptocurrencies will likely be regulated under existing securities laws following crypto exchange FTX’s collapse and traditional players like the NYSE may move into tokenized training, the ICE chief also said.
FTX had filed for bankruptcy in November after about $6 billion was withdrawn in 72 hours after Binance walked away from a rescue deal.
FTX chief SBF is accused of funneling customers’ deposits to FTX’s affiliated trading firm.
ICE Chief’s statement comes in light of FTX’s collapse, which wiped countless billions from the market and affected the crypto reputation among regulators.