Congress is launching its official response to the collapse of cryptocurrency giant FTX on Thursday, as investors and investigators struggle to understand the shocking implosion three weeks ago of one of the largest crypto exchanges in the world.
Committee staffer, has been angling for jurisdiction over crypto markets, and in the months before FTX’s collapse, both the committee and the company had been pushing to hand it to him.
Stabenow and Boozman have continued to make the case for their bill — officially the Digital Commodities Consumer Protection Act — in the wake of the FTX bankruptcy. But the company’s collapse has remade the debate over crypto regulation. Other top policymakers are arguing for a tougher brand of federal oversight than what FTX was advocating, as the company has transformed from Washington darling to villain.
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