Should the wild, wild west be tamed? That's the question being asked in California about the crypto industry -- a financial sector that prides itself in being independent of most government regulators. But some want to change that.
"This is really an industry where it's sort of 'buyer beware' on steroids," said Robert Herrell, executive director of the Federation.
New York in 2015 became the first in the nation to require crypto companies to get a license they call a "bitlicense.""And literally when FTX collapsed, because of the protections that people in New York had, New Yorkers were better protected when FTX collapsed than California was," Herrell said.
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