The industry has long argued for decentralization, you know, that they are focused on peer-to-peer interactions with people can engage directly with each other. So they're arguing that they're intrinsically different than other forms of investment that are regulated. But that doesn't change the fact that there are serious questions over whether crypto tokens are actually securities.
The epic crash and burn of Sam Bankman-Fried’s FTX crypto empire in November was huge global news. Eight months later, the crypto world is still feeling the after-shocks—with embarrassed celebrity endorsers, a scrubbed stadium logo and billions of dollars drained from the accounts of ordinary people.
Bloomberg’s Hannah Miller and Allyson Versprille join this episode to talk about the next big challenge for crypto exchanges: Washington. Federal agencies are taking a hard look at new regulations to police cryptocurrencies and protect investors–and taking legal action against some of the industry’s biggest players.
Read more: Crypto Gets Its Moment of Clarity, But Not the One It Wanted
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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