In a recent speech at Duke University, CFTCjohnson called on Congress to expand the CFTC’s authority to look into the financial health and corporate governance of any firm that wishes to buy or invest in a CFTC-regulated company. cheyenneligon reports
on Wednesday, Commodity Futures Trading Commission Commissioner Kristin Johnson formally called on Congress to modify several pieces of proposed digital asset legislation to expand the U.S. agency’s authority to conduct due diligence on any firm – foreign or domestic – seeking to purchase a minimum 10% share of the equity interest in a CFTC-registered market participant.
Behnam and Johnson have used the example of FTX to demand expanded authority for their agency to oversee the crypto industry – something they’ve repeatedlyLedgerX was a CFTC-regulated entity prior to being purchased by West Realm Shires in 2021. Johnson noted that less than two years after being brought under the FTX umbrella, ”market participants find themselves navigating the dark and troubling waters of FTX’s bankruptcy.”as part of the FTX bankruptcy proceedings.
“In times of crisis, with expanding access to retail market participants, and with increasingly diverse markets, relying on other regulatory frameworks such as anti-trust legislation, may prove too limited in scope to prevent crypto-crises,” Johnson added.Johnson didn’t hesitate when discussing corporate failures that led to FTX’s implosion, saying the collapsed Bahamian exchange was the latest example in a string of “cautionary tales woven together by a set of common threads.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Johnson & Johnson deserves more credit for another healthy quarter and strong guidanceThe new year has been tough on pharmaceutical stocks, including JNJ. But it should not be read as an indictment on the company's operations.
Read more »
J&J Gets Ready to Break Up With TylenolHeard on the Street: Johnson & Johnson’s consumer business was the only division to deliver growth in the fourth quarter
Read more »
Retiring NYPD assistant commissioner sounds off on rising gun violence among teenagersThere's a disturbing pattern of rising gun violence among teenagers. TimMcNicholas spoke with an NYPD assistant commissioner set to retire at the end of the week who is sounding off in his final days with the force about what he says is the cause.
Read more »
Mayor, police superintendent, fire commissioner hold ribbon-cutting for controversial $170 million training facilityMayor Lori Lightfoot and top officials of the Chicago Police Department and Chicago Fire Department gathered with dozens of others Wednesday morning for the ribbon cutting for a new $170 million joint-training facility in West Garfield Park.
Read more »
NYC correction commissioner faces scrutiny over safely housing transgender detainees at RikersTestimony at the hearing centered around trans women and their allies who said they had been assigned to male units where they were assaulted, removed for medical treatment, and then brought back to the same units, where they faced attacks.
Read more »
Democrats in new Congress renew push for assault weapons banIn response to Saturday’s mass shooting that left 11 people dead at a California dance hall, Senate Democrats introduced a pair of bills to tighten gun laws in the U.S.
Read more »