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The FTX Collapse: Government officials call for better oversight of cryptocurrency industry
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The collapse of FTX has sent shockwaves through the cryptocurrency industry, with many firms filing for bankruptcy as a result of their relationship with the now-insolvent exchange. Government officials are calling for better oversight of the cryptocurrency industry in order to prevent future incidents like the FTX blowup. CFTC Chairman Rostin Behnam will testify before the Senate Agriculture Committee today on the need for greater regulation of the crypto market. It is still unclear which governmental body or bodies should be responsible for overseeing the cryptocurrency industry. Today's hearing will hopefully provide further clarity on the issue of regulatory oversight of the crypto market.
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