Crypto Industry Faces Investor Protection Challenges and Institutional Interest Amidst Market Volatility.
Former CFTC chairman, Timothy Massad, has called for a new industry framework that protects investors, prevents fraud and manipulation, and answers the question of whether digitized tokens are securities. Massad stressed that the business model of crypto exchanges is inconsistent with the way securities markets work and that wash trading accounts for 50% to 90% of trading on crypto platforms. He and Federal Reserve Chair Jay Powell have been advocating for measures that protect investors in the short term while the government works to create a whole new framework model.