Senate banking chief urges US Treasury to secure new crypto rules following FTX collapse

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Senate banking chief urges US Treasury to secure new crypto rules following FTX collapse - Channel News Asia

Quick Summary:

A Democratic senator and chair of a key committee on Tuesday pressed U.S.

Treasury Secretary Janet Yellen for help in securing legislation to better regulate cryptocurrency, the latest sign of mounting pressure for better regulations following the collapse of crypto exchange FTX.Ohio Sen.

"It is crucial that risks in this area are contained and do not spillover into traditional financial markets and institutions, and we draw the correct lessons regarding customer and investor protection," Brown said.Pressed for time?