Management of the Senate Agriculture Committee final week referred to as for extra federal oversight of cryptocurrency exchanges. The feedback come as cryptocurrency change FTX collapsed final week, and a collapse of cryptocurrency costs. The Senate Agriculture Committee has jurisdiction over the Commodity Futures Buying and selling Fee.
Chair Debbie Stabenow, a Michigan Democrat, says, “Shoppers proceed to be harmed by the dearth of transparency and accountability on this market.
Rating Republican from Arkansas, John Boozman, says, “The occasions which have transpired reinforce the clear want for better federal oversight of the digital asset business.” Boozman provides, “Whereas our legislative work continues, the Commodity Futures Buying and selling Fee already has the power to manage and prosecute fraud, manipulation and abuse. I strongly encourage them to actively train these authorities when mandatory.”
The Digital Commodities Shopper Safety Act of 2022, sponsored by Stabenow, would amend the Commodity Change Act to supply the Commodity Futures Buying and selling Fee jurisdiction to supervise the spot digital commodity market.
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