ICE CEO Says Crypto Should Be Dealt Like Securities

December 7, 2022

Story: Mohd Javed

Intercontinental Exchange chief Jeffrey Sprecher has not convinced that new laws are needed to govern crypto trading.

"The laws already exist and I think they're just going to be implemented more strongly," ICE chief said.

Speaking at a conference, Sprecher, whose ICE operates the New York Stock Exchange, said crypto assets are going to be regulated and dealt like securities.

"Most cryptocurrencies will likely be regulated under existing securities laws following crypto exchange FTX's collapse ", ICE Chief also said.

FTX had filed for bankruptcy in November after about $6 billion was withdrawn in 72 hours while Binance walked away from a rescue deal.

FTX chief SBF is an accused of funneling customer deposits to FTX's affiliated trading firm.

ICE Chief's statement comes in light of FTX’s collapse, which wiped countless billions from the market and affected crypto reputation among regulators.