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#Outside the Box: FTX was a warning. Washington should act now to fill other holes in the Swiss cheese.

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“Outside the Box: FTX was a warning. Washington should act now to fill other holes in the Swiss cheese.”

Instead of creating a new bureaucracy every time a new scam shows up, Congress should empower existing financial regulators.

FTX’s unraveling should not have come as any great surprise. When an unregulated market like crypto is opened to financial novices, mistakes are bound to be made and fraudsters are sure to take advantage.

Background reading: SEC charges Sam Bankman-Fried with defrauding investors in now-bankrupt FTX

But…

Eugene Ludwig

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