Will the CFTC regulate the crypto industry?
The bill outlines how the Commodities Futures Trading Commission (CFTC) would regulate the crypto industry, as opposed to the other potential regulator, the Securities and Exchange Commission (SEC), with many in the industry preferring the CFTC.
Why is the cryptocurrency industry spending millions on midterm elections?
(Reuters) - The cryptocurrency industry has spent millions of dollars on U.S. midterm election races during a year of heavy losses and upheaval in the sector, which hopes to gain sway among legislators as Congress debates tighter regulation of digital assets.
What happened to crypto?
Equities tied to crypto suffered, too. Crypto exchange Coinbase tumbled 20% over two days, while Robinhood, the trading app that counts Bankman-Fried as one of its biggest investors, fell by 30% during the same period.
Is FTX representative of every company in crypto?
He added that FTX “is not representative of every company in crypto” and touted Coinbase as having taken a “very different strategy” towards regulatory compliance by getting licenses from the CFTC, money transmission licenses, and releasing audited financial statements to the public.