FTX Collapse Draws Senate Scrutiny as Lawmakers Push for Crypto Oversight – WSJ

Lawmakers should pass legislation that would impose strict rules on cryptocurrency exchanges, including rules to limit or prohibit the conflicts of interest that contributed to FTX’s collapse, Commodity Futures Trading Commission Chairman Rostin Behnam said Thursday.

Speaking to members of the Senate Agriculture Committee, Mr. Behnam said he still supported a bill that would give his small agency authority to police trading in bitcoin, ether and other digital assets classified as commodities. FTX and its founder Sam Bankman-Fried also lobbied in support of the legislation before the firm’s collapse last month.

Source: FTX Collapse Draws Senate Scrutiny as Lawmakers Push for Crypto Oversight – WSJ