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Senator Stabenow notes observer called Ledger X solid despite gaping hole in crypto regulation

Senate Agriculture Committee Chair Debbie Stabenow says at hearing with Commodity Futures Trading Commission Chairman Rostin Behnam that John Ray the CEO appointed to navigate the FTX bankruptcy said that Ledger X has a solvent balance sheet and responsible management, Customer money was safeguarded and accounted for which proposed legislation would replicate for digital commodity markets and if in law FTX conduct would have been illegal and could have been prevented, so Congress must act to hold this industry to the same rules as traditional financial institutions and close gap but gaping holes in regulations or else consumers will continue to be harmed and hardworking Americans will continue to lose billions of dollars at the hands of bad actors like FTX.
Senate Agriculture Committee Chair Debbie Stabenow says at hearing with Commodity Futures Trading Commission Chairman Rostin Behnam that John Ray the CEO appointed to navigate the FTX bankruptcy said that Ledger X has a solvent balance sheet and responsible management, Customer money was safeguarded and accounted for which proposed legislation would replicate for digital commodity markets and if in law FTX conduct would have been illegal and could have been prevented, so Congress must act to hold this industry to the same rules as traditional financial institutions and close gap but gaping holes in regulations or else consumers will continue to be harmed and hardworking Americans will continue to lose billions of dollars at the hands of bad actors like FTX.
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Editorial Use only. May not be used as partisan political campaign material to promote or oppose the candidacy of any person for elective public office, and may not be used to distort the objects and purposes of the hearing or cast discredit or dishonor any member of the House or bring the House or any Member into disrepute. Contact your local office for all commercial or promotional uses.
Credit:
FedNet / Getty Images
Editorial #:
1446233929
Collection:
FedNet
Date created:
December 01, 2022
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License type:
Rights-ready
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Not released.ÌýMore information
Clip length:
00:01:06:14
Location:
Washington, DC, United States
Mastered to:
QuickTime 8-bit H.264 HD 1920x1080 29.97p
Source:
FedNet
Object name:
sag120122c