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ICE CEO: No Laws Are Needed For Crypto

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Jeffrey Sprecher, chief of Intercontinental Exchange, is not yet convinced if new laws will be needed to regulate crypto trading.

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"The laws are already in place, and I believe they will be applied more strongly," the ICE chief stated.

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Sprecher, whose ICE runs the New York Stock Exchange, stated that crypto assets would be regulated and treated like securities at a conference.

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"Most cryptocurrencies are likely to be regulated according to existing securities laws after crypto exchange FTX's crash," ICE Chief stated.

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FTX filed for bankruptcy in November after $6 billion had been withdrawn in less than 72 hours. Binance walked away with a rescue plan.

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SBF of FTX Chief is accused of funneling customer deposits into FTX's affiliate trading firm.

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The statement by ICE Chief comes after FTX's collapse, which wiped out countless billions of the market and damaged the crypto reputation among regulators.

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