--- title: "Meaning & Key Takeaway of: I think that it is really important that…" description: "\"I think that it is really important that there's federal oversight of the crypto industry.\" — Sam Bankman-Fried" image: "https://sms4smile.com/quotes/i/9b4/sam-bankman-fried-6385_crypto_i-think-that-it-is-really-important-that_1007574.jpg" --- # I think that it is really important that there's federal… ![“I think that it is really important that there's federal oversight of the crypto industry.” quote by Sam Bankman-Fried](https://sms4smile.com/quotes/i/9b4/sam-bankman-fried-6385_crypto_i-think-that-it-is-really-important-that_1007574.jpg) [Download](https://sms4smile.com/quotes/i/9b4/sam-bankman-fried-6385_crypto_i-think-that-it-is-really-important-that_1007574.jpg) [Open image](https://sms4smile.com/quotes/i/9b4/sam-bankman-fried-6385_crypto_i-think-that-it-is-really-important-that_1007574.jpg) > “I think that it is really important that there's federal oversight of the crypto industry.” [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Government oversight is essential to ensure safety and stability in the cryptocurrency market. **In simple terms:** Regulation protects crypto users. Key Takeaway Support balanced crypto regulation. Themes regulation crypto consumer protection Mood cautious optimistic Type policy industry commentary When to use this quote - policy drafting - investment decisions - compliance audits Key Concepts financial law market stability risk management Questions to Reflect On - What safeguards are needed without hindering growth? - How can regulators stay informed about fast‑moving tech? A Different Perspective Over‑regulation could stifle innovation. ★ ★ ★ ★ ★ No ratings yet [Crypto](https://sms4smile.com/quotes/about/crypto/) ## Related quotes > [The strongest version of the crypto industry is one that does have regulatory oversight.](https://sms4smile.com/quotes/sam-bankman-fried/the-strongest-version-of-the-crypto-industry-is-one-that-does-have/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I left Jane Street Capital to start on my own ideas and got into crypto.](https://sms4smile.com/quotes/sam-bankman-fried/i-left-jane-street-capital-to-start-on-my-own-ideas-and-got-into/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [If you look at carbon produced per dollar of economic activity, crypto is not a huge outlier.](https://sms4smile.com/quotes/sam-bankman-fried/if-you-look-at-carbon-produced-per-dollar-of-economic-activity-crypto/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [If you hurt your knee, honestly, I'd rather have the federal government focused on North Korea, focused on other things than your knee, OK,…](https://sms4smile.com/quotes/donald-trump/if-you-hurt-your-knee-honestly-i-d-rather-have-the-federal-government/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [Small businesses are the number one job creators in America. Therefore, it is important that the federal government creates an environment that helps them…](https://sms4smile.com/quotes/randy-neugebauer/small-businesses-are-the-number-one-job-creators-in-america-therefore/) [Randy Neugebauer](https://sms4smile.com/quotes/author/randy-neugebauer/) > [There's a wide world out there. We shouldn't think that crypto is going to be the most fertile ground to work in forever.](https://sms4smile.com/quotes/sam-bankman-fried/there-s-a-wide-world-out-there-we-shouldn-t-think-that-crypto-is/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I didn't know anything about crypto when I first got involved. I barely knew what a blockchain was.](https://sms4smile.com/quotes/sam-bankman-fried/i-didn-t-know-anything-about-crypto-when-i-first-got-involved-i/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [There are tons and tons of people who have interest in trading crypto and also have interest in trading stocks.](https://sms4smile.com/quotes/sam-bankman-fried/there-are-tons-and-tons-of-people-who-have-interest-in-trading-crypto/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [ We can't be playing around with these issues \[Zika disease\], because this can become very serious very quickly, as we have seen in Brazil… ](https://sms4smile.com/quotes/marco-rubio/we-can-t-be-playing-around-with-these-issues-zika-disease-because/) [Marco Rubio](https://sms4smile.com/quotes/author/marco-rubio/) > [We are the most regulated crypto exchange by far. We are regulated by some definition by more regulators than any exchange of any type.](https://sms4smile.com/quotes/sam-bankman-fried/we-are-the-most-regulated-crypto-exchange-by-far-we-are-regulated-by/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [Every time I would tweet something about crypto it would go viral.](https://sms4smile.com/quotes/francis-x-suarez/every-time-i-would-tweet-something-about-crypto-it-would-go-viral/) [Francis X. Suarez](https://sms4smile.com/quotes/author/francis-x-suarez/) > [“Fearful investors sell their stocks the moment prices drop while confident ones see those drops as opportunities to own better businesses at cheaper rates.”](https://sms4smile.com/quotes/olawale-daniel/fearful-investors-sell-their-stocks-the-moment-prices-drop-while/) [Olawale Daniel](https://sms4smile.com/quotes/author/olawale-daniel/) > [With a multi-billion dollar market capitalization, crypto is here to stay. It's not going anywhere.](https://sms4smile.com/quotes/ritchie-torres/with-a-multi-billion-dollar-market-capitalization-crypto-is-here-to/) [Ritchie Torres](https://sms4smile.com/quotes/author/ritchie-torres/) > [We're trying to create a comprehensive Bitcoin and crypto ecosystem so that we can grab the mantle of the most crypto-friendly city in the…](https://sms4smile.com/quotes/francis-x-suarez/we-re-trying-to-create-a-comprehensive-bitcoin-and-crypto-ecosystem/) [Francis X. Suarez](https://sms4smile.com/quotes/author/francis-x-suarez/) > [As consumers adopt crypto, we hope that they'll also be interested in trading equities and options.](https://sms4smile.com/quotes/baiju-bhatt/as-consumers-adopt-crypto-we-hope-that-they-ll-also-be-interested-in/) [Baiju Bhatt](https://sms4smile.com/quotes/author/baiju-bhatt/) ## More by Sam Bankman-Fried > [The bitcoin network is not a payments network and it is not a scaling network.](https://sms4smile.com/quotes/sam-bankman-fried/the-bitcoin-network-is-not-a-payments-network-and-it-is-not-a-scaling/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [If you do something to see if it works, and then it doesn't work, was that a valuable educational experience for you - that…](https://sms4smile.com/quotes/sam-bankman-fried/if-you-do-something-to-see-if-it-works-and-then-it-doesn-t-work-was/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [We've put a lot of attention and care into regulation and interfacing with regulators.](https://sms4smile.com/quotes/sam-bankman-fried/we-ve-put-a-lot-of-attention-and-care-into-regulation-and-interfacing/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [FTX has shareholders and we have a duty to do reasonable things by them and I certainly feel more comfortable incinerating my own money.](https://sms4smile.com/quotes/sam-bankman-fried/ftx-has-shareholders-and-we-have-a-duty-to-do-reasonable-things-by/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [Just like an idle software, your brain is less efficient after a long break.](https://sms4smile.com/quotes/sam-bankman-fried/just-like-an-idle-software-your-brain-is-less-efficient-after-a-long/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I have given to some Republicans, I've given to some Democrats.](https://sms4smile.com/quotes/sam-bankman-fried/i-have-given-to-some-republicans-i-ve-given-to-some-democrats/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [There are a lot of ways to do good in the world.](https://sms4smile.com/quotes/sam-bankman-fried/there-are-a-lot-of-ways-to-do-good-in-the-world/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [The SEC is very likely going to end up regulating spot security token markets.](https://sms4smile.com/quotes/sam-bankman-fried/the-sec-is-very-likely-going-to-end-up-regulating-spot-security-token/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [Lack of trust is an enormous transaction cost, and I underestimated this when I first got into business.](https://sms4smile.com/quotes/sam-bankman-fried/lack-of-trust-is-an-enormous-transaction-cost-and-i-underestimated/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I wanted to get rich, not because I like money but because I wanted to give that money to charity.](https://sms4smile.com/quotes/sam-bankman-fried/i-wanted-to-get-rich-not-because-i-like-money-but-because-i-wanted-to/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [It is easy to get lulled into thinking that everything you do is all you can do - but you're not thinking more globally…](https://sms4smile.com/quotes/sam-bankman-fried/it-is-easy-to-get-lulled-into-thinking-that-everything-you-do-is-all/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [We are the most regulated crypto exchange by far. We are regulated by some definition by more regulators than any exchange of any type.](https://sms4smile.com/quotes/sam-bankman-fried/we-are-the-most-regulated-crypto-exchange-by-far-we-are-regulated-by/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I am legitimately worried about doing things that will make people view me as partisan when it's not how I feel.](https://sms4smile.com/quotes/sam-bankman-fried/i-am-legitimately-worried-about-doing-things-that-will-make-people/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [We're really excited to support candidates who are making a point of putting pandemic prevention as one of their core policy positions and promising…](https://sms4smile.com/quotes/sam-bankman-fried/we-re-really-excited-to-support-candidates-who-are-making-a-point-of/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [When we think about what FTX represents, we want to be the best product that is out there.](https://sms4smile.com/quotes/sam-bankman-fried/when-we-think-about-what-ftx-represents-we-want-to-be-the-best/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) [Explore all 99 Sam Bankman-Fried quotes ](https://sms4smile.com/quotes/author/sam-bankman-fried/) ## More Crypto quotes > [As consumers adopt crypto, we hope that they'll also be interested in trading equities and options.](https://sms4smile.com/quotes/baiju-bhatt/as-consumers-adopt-crypto-we-hope-that-they-ll-also-be-interested-in/) [Baiju Bhatt](https://sms4smile.com/quotes/author/baiju-bhatt/) > [We're trying to create a comprehensive Bitcoin and crypto ecosystem so that we can grab the mantle of the most crypto-friendly city in the…](https://sms4smile.com/quotes/francis-x-suarez/we-re-trying-to-create-a-comprehensive-bitcoin-and-crypto-ecosystem/) [Francis X. Suarez](https://sms4smile.com/quotes/author/francis-x-suarez/) > [With a multi-billion dollar market capitalization, crypto is here to stay. It's not going anywhere.](https://sms4smile.com/quotes/ritchie-torres/with-a-multi-billion-dollar-market-capitalization-crypto-is-here-to/) [Ritchie Torres](https://sms4smile.com/quotes/author/ritchie-torres/) > [“Fearful investors sell their stocks the moment prices drop while confident ones see those drops as opportunities to own better businesses at cheaper rates.”](https://sms4smile.com/quotes/olawale-daniel/fearful-investors-sell-their-stocks-the-moment-prices-drop-while/) [Olawale Daniel](https://sms4smile.com/quotes/author/olawale-daniel/) > [Every time I would tweet something about crypto it would go viral.](https://sms4smile.com/quotes/francis-x-suarez/every-time-i-would-tweet-something-about-crypto-it-would-go-viral/) [Francis X. Suarez](https://sms4smile.com/quotes/author/francis-x-suarez/) > [We are the most regulated crypto exchange by far. We are regulated by some definition by more regulators than any exchange of any type.](https://sms4smile.com/quotes/sam-bankman-fried/we-are-the-most-regulated-crypto-exchange-by-far-we-are-regulated-by/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [There are tons and tons of people who have interest in trading crypto and also have interest in trading stocks.](https://sms4smile.com/quotes/sam-bankman-fried/there-are-tons-and-tons-of-people-who-have-interest-in-trading-crypto/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [“When it is Bitcoin; bad or good news doesn't matter too much. Be the long-term HODLER. That is all that really matters in this…](https://sms4smile.com/quotes/olawale-daniel/when-it-is-bitcoin-bad-or-good-news-doesn-t-matter-too-much-be-the/) [Olawale Daniel](https://sms4smile.com/quotes/author/olawale-daniel/) > [“In a world where truth has become negotiable, blockchain emerged as the last honest ledger.”](https://sms4smile.com/quotes/olawale-daniel/in-a-world-where-truth-has-become-negotiable-blockchain-emerged-as/) [Olawale Daniel](https://sms4smile.com/quotes/author/olawale-daniel/) > [The earliest adopters at scale of crypto were gamers.](https://sms4smile.com/quotes/brock-pierce/the-earliest-adopters-at-scale-of-crypto-were-gamers/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [A federal framework for regulating crypto, especially one that commands bipartisan buy-in, will take time to develop because almost nothing in D.C. happens overnight.](https://sms4smile.com/quotes/ritchie-torres/a-federal-framework-for-regulating-crypto-especially-one-that/) [Ritchie Torres](https://sms4smile.com/quotes/author/ritchie-torres/) > [Mobile was Internet 2.0. It changed everything. Crypto is Internet 3.0.](https://sms4smile.com/quotes/gil-penchina/mobile-was-internet-2-0-it-changed-everything-crypto-is-internet-3-0/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [The strongest version of the crypto industry is one that does have regulatory oversight.](https://sms4smile.com/quotes/sam-bankman-fried/the-strongest-version-of-the-crypto-industry-is-one-that-does-have/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [“The divine line "Bitcoin/Cryptocurrency is for criminals" is a cunning defensive strategy created by so called traditional financial services sector.”](https://sms4smile.com/quotes/mohith-agadi/the-divine-line-bitcoin-cryptocurrency-is-for-criminals-is-a-cunning/) [Mohith Agadi](https://sms4smile.com/quotes/author/mohith-agadi/) > [I didn't know anything about crypto when I first got involved. I barely knew what a blockchain was.](https://sms4smile.com/quotes/sam-bankman-fried/i-didn-t-know-anything-about-crypto-when-i-first-got-involved-i/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) [Browse all 25 Crypto quotes ](https://sms4smile.com/quotes/about/crypto/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "I think that it is really important that there's federal oversight of the crypto industry.", "creator": { "@type": "Person", "name": "Sam Bankman-Fried" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/sam-bankman-fried/i-think-that-it-is-really-important-that-there-s-federal-oversight-of/", "about": { "@type": "Thing", "name": "Crypto" }, "@id": "https://sms4smile.com/quotes/sam-bankman-fried/i-think-that-it-is-really-important-that-there-s-federal-oversight-of/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/9b4/sam-bankman-fried-6385_crypto_i-think-that-it-is-really-important-that_1007574.jpg", "contentUrl": "https://sms4smile.com/quotes/i/9b4/sam-bankman-fried-6385_crypto_i-think-that-it-is-really-important-that_1007574.jpg", "url": "https://sms4smile.com/quotes/i/9b4/sam-bankman-fried-6385_crypto_i-think-that-it-is-really-important-that_1007574.jpg", "width": 1080, "height": 1080, "caption": "“I think that it is really important that there's federal oversight of the crypto industry.” — Sam Bankman-Fried", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Sam Bankman-Fried", "item": "https://sms4smile.com/quotes/author/sam-bankman-fried/" }, { "@type": "ListItem", "position": 4, "name": "I think that it is really...", "item": "https://sms4smile.com/quotes/sam-bankman-fried/i-think-that-it-is-really-important-that-there-s-federal-oversight-of/" } ], "@id": "https://sms4smile.com/quotes/sam-bankman-fried/i-think-that-it-is-really-important-that-there-s-federal-oversight-of/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```