The collapse of cryptocurrency exchange FTX and the indictment of Sam Bankman-Fried have led to calls for reform in the industry. Linda A. Lacewell, former Superintendent of the New York Department of Financial Services, believes that the California bill, based on New York's bitlicense regime, could provide valuable lessons.
The bill puts the responsibility of filling in the details on California's Department of Financial Protection and Innovation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: