In the United States, the authorities of the Senate or Congress may conduct public interrogation to hear those involved in a scandal or other matter that requires the attention of the public authorities. These hearings generally have nothing to do with legal proceedings. The goal of the authorities is to gather information to consider a better organization or provide a response to a problem. In 2018, Mark Zuckerberg appeared before the US Congress in connection with the Cambridge Analytica scandal. Over the course of two days, nearly 100 members of the House and Senate questioned him about how the company handles user information. The case of the collapse of the FTX cryptocurrency exchange is very important to break from this tradition.
Accelerate efforts toward regulating cryptography
In the United States, the Senate set it at 1Verse December, the date of the first public hearing relating to B the case FTX. He explained that the hearings will likely lead to new regulations that will change the crypto industry.
We knew that the first session would be due commission Senate of Agriculture. Many observers have found it strange that this committee should be so interested in the issue. Commission chairwoman Debbie Stabenow makes sure they fit in better consumer protections. Rustin Benham, Chairman of the CFTC, will be a guest speaker at this hearing.
The test advertisement Why Congress Should Act: Lessons from the FTX Collapse It was accompanied by a call to action from the commission’s chairperson. The call seeks passage of a bipartisan Digital Goods Consumer Protection Act. The cryptotext allegedly limited retail investors’ exposure to the implosion of FTX.
It should be noted that the FSA is still preparing its survey.
Maxine Waters, chairman of the House Financial Services Committee, hopes this will quickly lead to regulation. For her, it is essential even now to prevent a similar collapse from endangering investors’ assets.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only fueled my enthusiasm. So I resolved to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.