With calls to regulate crypto in the wake of FTX’s meltdown increasing, one legal expert says those demands are misplaced.
“When it just comes to regulation of the space in general, I know a lot of people are calling for it,” Cathy Yoon, chief legal officer at MPCH, told Yahoo Finance Live (video above). “They want immediate action, but I think at the heart of things we really have to remember this really is a fraud first, and not necessarily something that touches all of the crypto space in general.”
Yoon’s comments come as court filings made by Bahamas liquidators late Wednesday said there are signs that “serious fraud and mismanagement” occurred at FTX.