- US House Financial Services Committee to Study FTX Collapse
- The first hearing in this case is scheduled for December 13.
- Politicians hope to involve in the process, among others, the SBF
The US House Committee on Financial Services has set a date for a hearing on the FTX collapse. The meeting will take place on December 13 of this year.
Following the fall of FTX, the urgent need for legislation has never been greater. @FSCDems anticipated this need & have already been working for several months under the leadership of Chairwoman Waters, w/ RM McHenry, to craft bipartisan legislation.— U.S. House Committee on Financial Services (@FSCDems) November 16, 2022
This was stated by the president of the committee, Maxine Waters. In her speech, she pointed out that the members of the House of Representatives during the process will study the collapse of the stock market, as well as the reasons for it.
Please note that this is only the first part of the hearings. The dates of the remaining meetings on this topic are not yet known.
During the proceedings, members of Congress plan to take a comprehensive look at the events that led to FTX’s bankruptcy, as well as the consequences for the market as a whole. It is possible that the result of this process will have an impact on the development of the regulatory framework in the field of cryptocurrencies in the United States.
We also note that on December 1, the Agriculture Committee will hold a hearing on the FTX case. Both departments hope to involve people directly related to the case, including Sam Bankman-Fried, in the process. Let’s remember that after the collapse of FTX, Biden called for tougher international crypto regulation. Obviously, this process will also affect the United States, where regulators are already prone to harsh censorship of the industry.