51³Ô¹ÏÍø

Commodity Futures Trading Commission Chairman Rostin Behnam tells the Senate Agriculture Committee at the first congressional hearing on FTX collapse in prepared testimony that events of the past few weeks embody in the most regrettable way the perilous state of the digital asset market, a patchwork of federal and state based regulation recognized as an unsuitable substitute for a comprehensive approach, many Americans had invested in a novel product and would likely lose money because digital asset markets lack basic protections expected that had made American financial markets the envy of the world, and in the absence of stringent and uniform standards, the digital asset market rapidly expanded with nominal barriers to entry for new products and new consumers, and massive speculative interest had taken the place of legitimate market forces putting the American public at significant risk.