"Cryptocurrency regulation is inevitable" - FTX CEO, Sam Bankman-Fried

The co-founder of major exchange FTX says that "sanctions, debarment lists, and blacklists" are inevitable in the future of crypto.

The billionaire said he is a proponent of blacklisting or blockchain regulation with a model where individuals can only trade freely if they are not explicitly sanctioned.

In short, Sam is in favor of being able to ban, freeze, shut down, and so on. Well, if the law requires it. 

"We need fast and reliable lists of addresses linked to illegal financing," said the FTX CEO. However, enforcing such sanctions in practice can be difficult. 

FTX raised the issue of timing. "What happens if funds from an illegal financial activity are moved after that activity is detected but before it is reported to all platforms?" - the exchange team asked.

FTX also recommended that "trustees" maintain their own lists of addresses suspected of involvement in financial crimes but with which legitimate transactions can still be made.