United States Senator Pat Toomey this week spoke at the Senate Banking Committee hearing on the collapse of FTX in which he explained that the illegal actions by FTX must be separated “from perfectly lawful and innovative cryptocurrencies.”
Senator Pat Toomey (R-PA) emphasized that “The collapse of FTX is not an indictment of crypto,” adding that “cryptocurrency cannot be stopped” and “the technology would simply migrate offshore” if Congress tried to do something untoward against the industry. Toomey described the events:
There was unauthorized lending of customer assets to an affiliated entity, and there were fraudulent promises to investors and customers about FTX’s operations. These are outrageous and completely unacceptable.
He further emphasized:
I want to underscore a bigger issue here: The wrongful behaviour that occurred here is not specific to the underlying asset. What appears to have happened here is a complete breakdown in the handling of those assets.
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We współpracy z: https://cryptodaily.co.uk/2022/12/senator-toomey-crypto-cannot-be-stopped
