According to Cointelegraph, after the infamous Terra, FTX and Celsius collapses in 2022 execs bring up the role of crypto rating agencies in mitigating risks within the crypto sphere.
“Nothing that the world’s regulatory agencies have done since 2022 has increased my faith that they are going to be able in practice to do more good than harm for customers or service providers in the crypto space.”
Goertzel, regulator, United States, handling the FTX case mentioned that there was no need for special laws for crypto fraud. It is believed that the laws against it could be used to arrest “crypto fraudsters,” much like anyone else who facilitates fraud, added Cointelegraph.
Furthermore, “A very important point to stress is that a rating can only tell you how much risk you are taking. It is not by any means a certain prediction of an upcoming collapse,” Cointelegraph concluded.
(With insights from Cointelegraph)
