Gary Gensler, the US SEC Chairman, has hinted at the possibility of the FTX crypto exchange making a comeback; however, the crypto exchange will have to follow strict regulatory rules and guidelines.

SEC Chair Optimistic About FTX Resurgence

During his discussion in the DC Fintech Week 2023, the United States Securities and Exchange Commission (SEC) Chairman, Gary Gensler told CNBC that the failed FTX crypto exchange could have a more positive future if specific conditions involved in its resurgence were followed.

Gensler suggested that FTX could have a revival and continue operating as a legal crypto exchange if the crypto exchange was relaunched under a new leadership with reputable standing who has a clear understanding of the laws.

Gensler’s statement underscores the importance of legal compliance and transparency which was previously lacking when FTX founder Sam Bankman-fried and his executives were leading the insolvent crypto exchange. 

The result of the bad leadership in FTX saw billions of customer funds missing from FTX account books, thoroughly devastating major investors and individuals affiliated with the crypto exchange.

Gensler has stated that individuals who are looking to purchase the remains of the exchange and revive it like former NYSE President, Tom Farley, should ensure they do so within the boundaries of law, prioritizing investor trust and refraining from using customer asset

Go to Source to See Full Article
Author: Scott Matherson

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details