šØA16Z: CLARITY ACT COULDāVE STOPPED FTX!
@a16zcrypto's Managing Partner
@cdixon says the Clarity would have blocked FTX.
Thereās currently no federal regulator for crypto exchanges. The bill would give the SEC and CFTC oversight, mandate real audits, anti-fraud rules, and customer asset segregation.
FTX moved customer money with no proper audits.
Under Clarity, any exchange that failed those standards couldnāt operate in the U.S.