FTX’s SBF Seeks Federal Oversight On Crypto After Coinbase Incident

The U.S. Securities and Exchange Commission (SEC) has been a target of many crypto leaders and experts over its consideration of the nature of a “Token”. However, FTX Chief, Sam Bankman-Fried also expressed his view on this issue.

FTX’s chief take on nature of tokens

SBF was sharing details on how the FTX margin engine works and the structure they are proposing in the US. He mentioned a report on how Germany proposed only allowing futures with the pre deposited margin.

Amid this Twitter thread, Alex, a journalist asked about SBF’s stand on the ‘many tokens actually being security’ query.

To this FTX chief wrote that there are tokens that are securities and tokens that are not. He added that by default SEC will take those used for issuances. While CFTC will take on those that aren’t. However, he is flexible about that.

He concluded by saying that “in the end, He wants Federal oversight of crypto one way or another”.