In an April 5 blog post, McCaul said there was currently no adequate regulatory or supervisory framework for crypto firms but that the collapse of the FTX exchange helped shed light on the problem. She called on policymakers to address potential gaps in existing frameworks that could lead to bank failures, citing the collapses of Silicon Valley Bank and Signature Bank (OTC:SBNY) in the United States.
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Source: Cryptocurrency - investing.com
