Regulated firms warn against crypto market lockout

Onshore participants urge regulators to bring cryptocurrency trading out of the ‘shadows’

After the shocking collapse of cryptocurrency exchange FTX, regulated financial firms are warning that the lack of legal clarity in major jurisdictions has forced cryptocurrency trading away from properly supervised markets, and are urging regulators to change their approach.

According to bankruptcy documents filed by FTX this month, the firm could have up to 1 million creditors, owed billions of dollars. In theory, some entities in the group were overseen by US regulators, but the functional

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