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Senator Boozman says no place for FTX behavior in financial markets

Senate Agriculture Committee Ranking Senator John Boozman says at hearing with Commodity Futures Trading Commission Chairman Rostin Behnam that a failure of FTX magnitude requires Congress to analyze what happened, the scope and scale of the impact to US consumers and investors, what could have prevented its collapse, potential market effects and systemic risk, many having asked why the Ag Committee is involved that the Ag Committee is involved because it and no other Committee in the Senate is responsible for the oversight of the nation's commodity markets and Bitcoin, although a crypto currency is a commodity in the eyes of federal courts and the opinion of the SEC Chairman, Boozman concluding that if there are exchanges where commodities are traded be it oil or Bitcoin, then they must be regulated.
Senate Agriculture Committee Ranking Senator John Boozman says at hearing with Commodity Futures Trading Commission Chairman Rostin Behnam that a failure of FTX magnitude requires Congress to analyze what happened, the scope and scale of the impact to US consumers and investors, what could have prevented its collapse, potential market effects and systemic risk, many having asked why the Ag Committee is involved that the Ag Committee is involved because it and no other Committee in the Senate is responsible for the oversight of the nation's commodity markets and Bitcoin, although a crypto currency is a commodity in the eyes of federal courts and the opinion of the SEC Chairman, Boozman concluding that if there are exchanges where commodities are traded be it oil or Bitcoin, then they must be regulated.
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Restrictions:
Editorial Use only. May not be used as partisan political campaign material to promote or oppose the candidacy of any person for elective public office, and may not be used to distort the objects and purposes of the hearing or cast discredit or dishonor any member of the House or bring the House or any Member into disrepute. Contact your local office for all commercial or promotional uses.
Credit:
FedNet / Getty Images
Editorial #:
1446233918
Collection:
FedNet
Date created:
December 01, 2022
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License type:
Rights-ready
Release info:
Not released.ÌýMore information
Clip length:
00:01:18:11
Location:
Washington, DC, United States
Mastered to:
QuickTime 8-bit H.264 HD 1920x1080 29.97p
Source:
FedNet
Object name:
sag120122d