FTX boss Sam-Bankman Fried thoroughly broke down his ideal regulatory framework for the crypto industry on Wednesday.
The billionaire said he is a proponent of regulation using blacklists or blocklists, a model where individuals may freely trade unless explicitly sanctioned. This is in contrast with whitelists or allowlists where individuals are banned from trade by default unless explicitly granted permission.
“We need fast, reliable lists of addresses associated with illicit finance,” said the CEO. “But peer-to-peer transfers should generally be free as long as they're not going to sanctioned actors.”
2) At a high level:
a) we need regulatory oversight and customer protection
b) we need to ensure an open, free economy, where peer to peer transfers, code, validators, etc. are presumptively free
c) we should establish regulation--and until then standards--to ensure (a/b)
— SBF (@SBF_FTX) October 19, 2022
In a more detailed document on FTX’s website titled "Possible Digital Asset...
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