Lisa Cameron MP, Chair of the Crypto and Digital Assets APPG, said:
“The events surrounding crypto exchange FTX are concerning and highlight the need for urgent and clear regulation of the crypto sector to ensure that consumers are protected and to guarantee the responsible and proper use of customer funds.
I urge Government and regulators to look carefully at what has happened in this particular case and to consider what further regulation is required to help prevent this happening again in the future.
With more and more people using crypto it’s more important than ever that we learn the lessons from this case and previous market failures to protect against harm to investors and consumers.
We want to see a responsible and well regulated crypto sector which provides clear rules for operators, sets high standards in terms of consumer protection and promotes good corporate governance across the sector.”