Sen. Pat Toomey slams Congress's failure to produce crypto regulation in good time
Sen. Pat Toomey criticized the the slow process of passing U.S. crypto trading regulations. Hostility and a lack of transparency by the SEC, alongside a failure to pass regulatory guardrails, has "generated a debilitating amount of legal uncertainty," the Pennsylvania Republican wrote on Twitter on Friday.
The comments come after a torrid week in the crypto industry and shocking revelations about one of the world's largest crypto exchanges. A liquidity crisis brought on by revelations about its balance sheet pushed FTX toward insolvency. Binance, which signed a letter of intent that could have led to an acquisition, ultimately passed on the deal, citing due diligence concerns as well as reports of investigations by American regulators.
Source
https://t.me/Crypto_Bitcoin_Blockchain
