• News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

US Authorities Set Date For First Hearing on FTX’s Fallout

23 November 2022
in Latest News, News
Reading Time: 3 mins read
105 4
US Authorities Set Date For First Hearing on FTX’s Fallout

source: news.bitcoin.com

Government officials and regulators in the United States have begun to schedule hearings to investigate the causes of FTX’s unexpected collapse. This comes at a time when the crypto industry is starting to return to normalcy following the FTX debacle that occurred earlier this November. 

Given the size of the now-bankrupt crypto exchange, the outcome of the court hearings will almost certainly result in new regulations or policies that will help revitalize and transform the cryptocurrency industry. 

Regional regulatory decisions, on the other hand, are likely to impact only the operation of cryptocurrency exchanges in those jurisdictions. Turkey and the Bahamas have already launched investigations into the FTX saga.

In contrast, if a crypto company has its headquarters in the United States, regulations enacted by the American government will almost certainly set a precedent for other countries and, at best, force changes everywhere. 

In light of this, the U.S. Senate Agriculture Committee has decided that the initial hearing on the collapse of FTX will take place on December 1. This was announced in a tweet from the committee’s official Twitter account. 

Along with the announcement of the full committee hearing, titled “Why Congress Needs to Act: Lessons Learned From the FTX Collapse,” it was also urged that the bipartisan Digital Commodities Consumer Protection Act be passed. According to reports, this Act would reduce retail investors’ exposure to the collapse of FTX. 

Because it is an unconventional regulatory body holding a hearing on cryptocurrency-related issues, the Agriculture Committee will invite Rostin Benham, the head of the CFTC, to speak at the hearing. 

The FSC to Conduct Independent Investigations into FTX 

The United States Senate’s Financial Services Committee is also planning hearings on the same subject. At press time, a date has yet to be set for FTX’s court appearance against the FSC. 

A similar collapse shouldn’t put the assets of hard-working people around the world at risk, according to Maxine Waters, chairman of the House Financial Services Committee. 

According to a press release announcing the upcoming hearing, the FSC will use every legal tool at its disposal to ensure that new rules for cryptocurrency platforms are passed as soon as possible.

 

If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share63Tweet40Share11
Previous Post

Singaporean Authority MAS Explains Why it Did Not Warn People About FTX

Next Post

Coinbase Shares Proof of Reserve in Show of Transparency

Endurance Okpanachi

Endurance Okpanachi

Related Posts

Bybit to Suspend Services in the UK in Compliance Move
Business

Bybit to Suspend Services in the UK in Compliance Move

22 September 2023

In a surprising turn of events, Bybit has announced the suspension of its services in the United Kingdom (UK). Starting from October 1, 2023, the exchange will cease onboarding new users residing in the UK. Existing users in the...

FTX Files Lawsuit Against Former Employees of Hong Kong Affiliate, Sets Deadline For Creditor Claims
Latest News

FTX Files Lawsuit Against Former Employees of Hong Kong Affiliate, Sets Deadline For Creditor Claims

22 September 2023

The management of bankrupt cryptocurrency exchange FTX has initiated legal proceedings against former employees of a Hong Kong affiliate, Salmeda. FTX alleges that these individuals withdrew $157.3 million under fraudulent circumstances just hours before the exchange filed for bankruptcy....

Australian Regulator Files Lawsuit Against Bit Trade & Kraken for Regulatory Non-Compliance
Latest News

Australian Regulator Files Lawsuit Against Bit Trade & Kraken for Regulatory Non-Compliance

21 September 2023

The Australian Securities and Investment Commission (ASIC) has taken legal action against Bit Trade Pty Ltd for failing to comply with design and distribution obligations related to its margin trading product.  ASIC made this announcement on Thursday, September 21,...

Mt. Gox Creditors Face Further Wait as Repayment Deadline Is Extended to October 2024
Latest News

Mt. Gox Creditors Face Further Wait as Repayment Deadline Is Extended to October 2024

21 September 2023

Nobuaki Kobayashi, the trustee overseeing the bankruptcy proceedings of the now-defunct cryptocurrency exchange Mt. Gox, has announced a further extension of the repayment deadline for creditors.  In a letter addressed to the creditors on September 21, 2023, Kobayashi revealed...

Swap Crypto

Markets Update

PayPal USD Stablecoin: A Win For Ethereum Or A Return to Centralization?

1 month ago

Worldcoin (WLD) Price Surges on Launch, But Privacy Concerns Issues Cast Doubts

2 months ago

XRP Skyrockets as Ripple Scores Partial Victory In SEC Battle; What Next for US Crypto Regulation?

2 months ago

Bitcoin May Be on a Bullish Trend As Price Approaches the $26,800 Key Support Level

4 months ago

DOGE Hits $10B Market Cap; Community Criticizes New Twitter CEO Appointment

4 months ago

NFT Market in Q1 2023: A Tale of Strong Starts, Mixed Performances, and Shifting Market Dynamics

4 months ago
Read More

Spotlight

All about SolChicks

All about Algorand

All about Bitcoin

All about Goracle

Press Releases

Gora Network Launches Testnet on Arbitrum

Gora Network Launches Testnet on Arbitrum

byGuest Author
13 August 2023
0

...

Blockswap to Host Multichain ERC20 Side Event at ETHCC

Blockswap to Host Multichain ERC20 Side Event at ETHCC

byGuest Author
8 July 2023
0

...

Goracle’s $GORA Initial DEX Offering Is Live on DeFi planet

Goracle’s $GORA Initial DEX Offering Is Live!

byGuest Author
28 June 2023
0

...

BitMEX Introduces a New PnL Realisation Feature for More Capital-Efficient Cross-Margining

BitMEX Introduces a New PnL Realization Feature

byGuest Author
13 April 2023
0

...

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities, Aims to Adapt Swiftly in an Evolving Landscape

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities

byGuest Author
13 April 2023
0

...

Read More
  • About Us
  • The Team
  • Careers
  • Contact
  • Partnerships

© Copyright 2023 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

No Result
View All Result
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00