The Latest Breaking News from Gary Gensler

The complaint heightens weeks of turmoil between two of crypto's top companies.

ALAMEDA, Calif. — Before his mid-December arrest, cryptocurrency billionaire Sam Bankman-Fried repeatedly claimed that he was a responsible business leader who sought more regulation of cryptocurrency and wanted his industry to be part of the mainstream financial system.

How will the collapse of FTX shape regulation from Washington?

The Securities and Exchange Commission chair said “the runway is getting shorter” for crypto companies.

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.