Collapse of FTX Can Bring SEC Closer to Banning Cryptocurrencies

The US SEC has already launched its first attack declaring that FTX’s native cryptocurrency FTT token was a security. The dramatic collapse of the crypto exchange FTX last month has sent shockwaves across the entire crypto industry. Millions of FTX users have lost their hard-earned money while trading with FTX. The situation with FTX has pushed the SEC to gather enough legal ammunition which might lead to the consideration of banning digital assets and other centralized crypto exchanges. Earlier this week on Wednesday, the US Securities and Exchange Commission (SEC) announced charges against two major allies of FTX founder Sam