EU rules would stop practices seen at crypto exchange FTX, says European Commission

LONDON (Reuters) - The "questionable practices" at now collapsed crypto exchange FTX would not have been allowed to happen under European Union rules now being finalised, a senior European Commission official said on Wednesday.

"All these failures are very serious. We don't see them as failures of blockchain or crypto assets per se," added Alexandra Jour-Schroeder, deputy director general at the Commission's financial services unit told a hearing in the European Parliament.

(Reporting by Huw Jones; editing by David Evans)