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US Senate committee schedules FTX hearing for Dec. 1, CFTC head to testify

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The hearing, titled ‘Why Congress Wants to Act: Lessons Learned from the FTX Give device’, will be the truth is one of many first in which U.S. lawmakers uncover what took web site with the synthetic.

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The United States Senate Agriculture Committee has presented that Commodity Futures Procuring and selling Price, or CFTC, chair Rostin Behnam will be the truth is one of many witnesses in a hearing exploring the collapse of crypto substitute FTX.

Per the Senate Agriculture Committee online web page, on Dec. 1 the rotund committee will listen in on testimony from Behnam and presumably different folks with knowledge about the liquidity concerns and subsequent downfall of FTX. The hearing, titled ‘Why Congress Wants to Act: Lessons Learned from the FTX Give device’ will be the truth is one of many first in which U.S. lawmakers uncover what took web site with the principle crypto substitute and feeble CEO Sam Bankman-Fried.

News: On December 1 @SenateAgDems + @SenateAgGOP will lift a hearing about the FTX collapse and the need for congressional action.

— Senate Ag, Nutrition, & Forestry Committee Dems (@SenateAgDems) November 21, 2022

The U.S. Condominium Financial Services Committee acknowledged on Nov. 16 this would also simply be maintaining a the same hearing “into the collapse of FTX and the broader penalties for the digital asset ecosystem” in December, but the match didn’t seem within the committee’s calendar at the time of publication. The committee acknowledged it expected to listen to from Bankman-Fried, Alameda Examine, and Binance, but didn’t particularly mention testimony from federal regulators esteem these at the Securities and Switch Price or CFTC.

Lawmakers on each and each aspect of the aisle in each and each chambers of Congress to boot to the White Condominium beget hinted at the need for regulatory readability or extra regulations within the wake of FTX’s collapse. On Nov. 10, White Condominium Press Secretary Karine Jean-Pierre urged that “prudent law of cryptocurrencies is indeed wished” essentially based on crypto firms with out factual oversight.

Connected: FTX management pressed for knowledge by US subcommittee chairman

Since submitting for economic extinguish and resigning as FTX’s CEO on Nov. 11, Bankman-Fried has become the target of world regulators investigating the synthetic, including Turkey’s Financial Crimes Investigation Agency, authorities within the Bahamas, and U.S. hiss and federal companies. Reportedly silent essentially based within the Bahamas, Bankman-Fried may maybe also simply be extradited to the U.S. for questioning — it’s unclear whether or no longer he’ll be on hand to focus on sooner than both the Condominium or Senate committee hearings.

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