What's next for cryptocurrency in the aftermath of the FTX fraud case?
Cryptocurrency entrepreneur Sam Bankman-Fried, second from right, arrives for an appearance at Manhattan federal court Tuesday, Jan. 3, 2023, in New York. Bankman-Fried will be arraigned in a Manhattan federal court Tuesday. (AP Photo/Craig Ruttle)
George Bragues, an associate vice-provost at the University of Guelph-Humber, says cryptocurrency is a digital form of currency that’s not backed by the Federal Reserve Bank.
“Cryptocurrency exists in a decentralized format. It exists on peer-to-peer computer networks,” said Bragues.
On Tuesday’s edition of “Closer Look,” Bragues further explained that there are different types of cryptocurrency and that cryptocurrency is recorded and tracked on a blockchain (ledger).
During the conversation, Bragues talked about FTX founder Sam Bankman-Fried’s fraud case, the future of cryptocurrency and if it will be regulated in the United States.
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