Hearing on FTX Collapse and Digital Currency Regulation
2022-12-01T20:02:19-05:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvZTU1XC8wMDFcLzE2Njk5MDY5NjNfMDAxLmpwZyIsImVkaXRzIjp7InJlc2l6ZSI6eyJmaXQiOiJjb3ZlciIsImhlaWdodCI6NTA2fX19Commodity Futures Trading Commission Chair Rostin Behnam testified at a Senate Agriculture Committee hearing on the collapse and bankruptcy of cryptocurrency exchange FTX. He called on Congress “to act promptly to apply a comprehensive regulatory regime,” regarding cryptocurrency markets and said there was evidence that CFTC regulations work. Moreover, he cited “significant conflicts of interest,” a lack of record-keeping, and other reasons for FTX’s collapse, and he recommended policy proposals for regulatory legislation. The Digital Commodities Consumer Protection Act, a bipartisan bill originating from the committee, would give authority to the CFTC to better regulate cryptocurrency markets.
Commodity Futures Trading Commission Chair Rostin Behnam testified at a Senate Agriculture Committee hearing on the collapse and bankruptcy … read more
Commodity Futures Trading Commission Chair Rostin Behnam testified at a Senate Agriculture Committee hearing on the collapse and bankruptcy of cryptocurrency exchange FTX. He called on Congress “to act promptly to apply a comprehensive regulatory regime,” regarding cryptocurrency markets and said there was evidence that CFTC regulations work. Moreover, he cited “significant conflicts of interest,” a lack of record-keeping, and other reasons for FTX’s collapse, and he recommended policy proposals for regulatory legislation. The Digital Commodities Consumer Protection Act, a bipartisan bill originating from the committee, would give authority to the CFTC to better regulate cryptocurrency markets. close
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