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The ‘Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets’ proceeding volition travel 2 months aft senators met to sermon the illness of FTX.
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United States lawmakers with the Senate Banking Committee person scheduled a 2nd proceeding exploring the interaction of a crypto marketplace crash.
In a Feb. 3 announcement, Senate Banking Committee seat Sherrod Brown said senators would convene connected Feb. 14 successful a proceeding titled ‘Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets’. The proceeding volition travel 2 months aft lawmakers met and discussed the collapse of crypto speech FTX successful a Dec. 14 hearing.
As the 2nd proceeding scheduled for the Senate Banking Committee pursuing the commencement of the 118th league of Congress, determination volition beryllium immoderate changes. Senator Brown volition stay committee chair, but Senator Tim Scott volition instrumentality implicit arsenic ranking subordinate pursuing the departure of Pat Toomey. Scott included a crypto regulatory framework arsenic 1 of his legislative priorities.
Committees successful some the House and Senate acceptable up hearings pursuing FTX filing for bankruptcy, impacting galore retail investors successful the United States. The House Financial Services Committee is besides expected to clasp a 2nd proceeding connected FTX sometime successful 2023. At the clip of publication, nary proceeding appeared connected the committee schedule.
Related: US Senator Ted Cruz pushes for crypto successful Congress ... utilizing snacks
Hollywood prima Ben McKenzie, Shark Tank prima and capitalist Kevin O'Leary, the Cato Institute's Jennifer Schulp and instrumentality prof Hilary Allen each testified successful the December hearing. Former FTX main enforcement serviceman Sam Bankman-Fried had been scheduled to talk astatine the House Financial Services Committee proceeding anterior to his apprehension successful the Bahamas. It’s unclear who volition talk astatine the February hearing.
Cointelegraph reached retired to Senator Sherrod Brown's office, but did not person a effect astatine the clip of publication.
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