The president of Binance , the world's leading crypto platform

[tanjimajuha20]

The FTX affair shakes investors' confidence in cryptocurrencies in general, and it is not excluded that frauds similar to the one set up by SBF will be repeated by other players. Thus, regulation has become the watchword for the main players in the sector. The platforms themselves, and in particular Binance , have been making an effort to be transparent in recent days to display their solvency, in the hope of reassuring their users at all costs.

It will probably soon line database be essential to organize a large international meeting of the Bretton Woods type to supervise cryptocurrencies and make their speculation less risky. The main objective of the Bretton Woods agreements, signed on July 22, 1944, was to set up a world monetary organization and to promote the reconstruction and economic development of countries affected by the war. Bretton Woods refounded the International Monetary System, making the US dollar and the pound sterling (until 1947) the major players in the International Monetary System.

It is now urgent to clarify at the international level and from a legal point of view the very place of these cryptocurrencies in the International Monetary System , starting by bringing the creators of cryptocurrencies out of anonymity. Since cryptocurrencies are not currencies in the strict sense, it is also essential to imagine a system that allows them to be compensated. In this way, cryptocurrencies, while having their independence of quotation, would in fact become official and monetary vehicles of a global currency usable by the greatest number of natural persons (individuals) and legal entities (companies). These new currencies in the macroeconomic sense would finally meet all the conditions (unit of account, function of reserve of value and intermediary of exchanges ) making them compatible with the traditional currencies issued by the Central Banks.

s himself convinced of this, as he stated at the recent G20 summit in Bali: "We really need regulation, it has to be done properly, it has to be done in a stable manner ."

Will he be heard?