Senators plan to question the head of the CFTC on the failure of digital-asset exchange FTX and a bill that would give the agency more crypto oversight
CFTC Chairman Rostin Behnam to say that his agency needs authority to write rules, oversee crypto trading
The collapse of FTX has set off the largest crypto-related bankruptcy ever. Here are three things to know about the company’s bankruptcy process. Photo: Lam Yik/Bloomberg NewsWASHINGTON—Senators with a plan to regulate cryptocurrencies are due to question the Commodity Futures Trading Commission’s chairman about the failure of the digital-asset exchange FTX and on legislation that would give that agency more power over the volatile market.
CFTC Chairman Rostin Behnam plans to tell the Senate Agriculture Committee that his agency needs authority to write rules and oversee crypto trading, including forbidding exchanges from having affiliated entities that trade with customers on the platform, according to his prepared testimony.
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