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US Congressman Brad Sherman said the collapse of the FTX exchange demonstrated the need for regulators to take more aggressive action against the industry.
Brad Sherman competed forCongress's aggressive approach over the years. According to him, in light of recent events related to the collapse of the FTX cryptocurrency exchange, he intends to, together with other congressmen, explore options for the formation of new laws. He also expressed hope that cryptocurrency market participants will not interfere in this process.
“Until now, the efforts of crypto billionaires to"Keeping the lid on significant cryptocurrency bills that propose sweeping measures to regulate the industry have been effective, pouring millions of dollars in campaign donations," Sherman said.
He recalled that the former CEOFTX Sam Bankman-Fried planned to donate more than $1 billion to election campaigns last fall. However, he said, it is now more important than ever that the US Securities and Exchange Commission (SEC) act decisively and take the crypto industry out of the regulatory gray area.
Previously, the US Commodity Futures Trading Commission (CFTC) tried to prove to the US Congress that cryptoassets are a commodity that falls under its jurisdiction.
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