{"id":17741,"date":"2022-05-24T09:30:04","date_gmt":"2022-05-24T09:30:04","guid":{"rendered":"http:\/\/egrowonline.com\/?p=17741"},"modified":"2022-05-24T09:30:04","modified_gmt":"2022-05-24T09:30:04","slug":"crypto-wall-street-battle-for-influence-at-washington-agency","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=17741","title":{"rendered":"Crypto, Wall Street battle for influence at Washington agency"},"content":{"rendered":"
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The incumbent exchanges are leveraging deep ties in Washington to fight back.<\/p>\n
\u201cOur relationships go many, many layers deeper,\u201d said John Deters, head of corporate strategy at Cboe, operator of the largest options exchange in the U.S.<\/p>\n
The battle between the two lobbying armies is the latest Washington flare-up between titans of new and old finance as officials try to figure out how to set rules for the digital currency industry. It\u2019s forcing regulators and lawmakers to pick sides. House Agriculture Chair David Scott<\/span> (D-Ga.), who has oversight of the CFTC and represents the state where NYSE owner Intercontinental Exchange is based, has blasted the FTX plan as \u201ca serious threat\u201d to global derivatives markets where trillions of dollars are transacted annually.<\/p>\n
\u201cWe\u2019re surprised by the amount of tension\u2014 of attention \u2014 that it\u2019s gotten,\u201d Bankman-Fried said in an interview. \u201cSome people may be coming at this from an angle of, you know, what\u2019s important for their business.\u201d<\/p>\n