- Policymakers Sheila Warren and Miller Whitehouse-Levine believe there will be regulatory changes due to the FTX’s collapse.
- Warren and Whitehouse-Levine were speaking on Laura Shin’s Unchained podcast.
- Both experts believe the SEC vs. Ripple case will see a resolution this quarter.
Sheila Warren, the CEO of the Crypto Council for Innovation, and Miller Whitehouse-Levine, Policy Director at the DeFi Education Fund, believe that there will be landscape changes in the aftermath of the FTX collapse and the election of the new Congress. Whitehouse-Levine explains:
Policymakers are taking a refreshed look at the crypto industry and the ecosystem broadly, rethinking what they thought they knew.
Warren and Whitehouse-Levine were sharing their insights on what crypto regulation could look like In 2023, on journalist Laura Shin’s podcast Unchained, which aired earlier today.
When asked about the FTX collapse affecting how Congress viewed crypto legislations, Whitehouse-Levine says, “Everybody felt burnt. No matter whether an average crypto user or a member of congress, everyone got burnt, because it was fraudulent.” However, he does not believe in the conspiracy theories revolving Bankman-Fried’s hold on the government.
“Some members view what happened with FTX as an FTX problem, others view it as a crypto problem,” remarks Warren. Whitehouse-Levine also divulges that some folks consider the FTX collapse as a failing of the people. While other people, particularly in the Senate, think that technology is a contributing factor to the collapse of FTX. “I think it’s going to be tricky for those two groups to come to a consensus on any particular issue, which will make the process of legislative action remote.”
Nevertheless, Warren affirms that crypto remains attractive and interesting to people all across the political spectrum. Crypto, she says, has bipartisan and bicameral support from various people and has generated a tremendous amount of support.
Regarding the SEC vs. Ripple case, both guests believe that the lawsuit would see some sort of resolution this quarter. “I will say this is a winnable case for Ripple,” argues Warren. She, however, fears that the SEC, under the guidance of the current chair, might not back down. “They could possibly get more ferocious.”
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