The Latest Breaking News from CFTC

Sen. Sherrod Brown says a bill supported by Sens. Stabenow and Boozman is too favorable to the crypto industry.

Commodity Futures Trading Commission Chairman Rostin Behnam urged senators to strengthen conflict of interest and financial disclosure provisions for cryptocurrency entities in a key piece of legislation in light of the collapse of the FTX exchange.

Rostin Behnam said he met with Sam Bankman-Fried 10 times over an FTX proposal.

Rostin Behnam urged senators to strengthen conflict-of-interest and disclosure language in a bill to regulate cryptocurrency.

His commission has come under scrutiny for its relationship with the exchange and Sam Bankman-Fried.

WASHINGTON — Congress opted to tread water on legislation that would clarify the agency in charge of the cryptocurrency industry, leaving lawmakers now without a regulator to blame for missing the signs of the FTX collapse this month and facing deep skepticism about some proposals.

FTX founder Sam Bankman-Fried’s prominence on Capitol Hill is said to have tainted bills deemed too favorable to the cryptocurrency industry.

Congress, which has been unable to pass comprehensive crypto legislation, is digging into what happened as regulators try to police the new, mysterious world of virtual currencies with old laws.

WASHINGTON — The spectacular collapse of major cryptocurrency exchange FTX is prompting calls for stronger regulation in Congress, where some bipartisan proposals are being characterized as too industry friendly.

Lawmakers say the collapse of FTX should strengthen the case for Congress to pass legislation to regulate the cryptocurrency industry.

U.S. regulators are investigating whether beleaguered crypto-exchange FTX.com mishandled customer funds, and they’re looking into the firm’s relationships with other parts of Sam Bankman-Fried’s crypto empire.