But he might not make it to next week’s hearing.
audience for over an hour last week. But unlike in media interviews, Bankman-Fried would be required to testify under oath to the committee, making it unlawful for him to make intentionally false claims to lawmakers.the first congressional hearing analyzing FTX’s collapse
last week. The hearing focused on possible legislation aimed at regulating the crypto industry. Specifically, lawmakers discussed the Digital Commodities Consumer Protection Act, or DCCPA, a bill that would ban crypto exchanges from commingling customer and corporate money. The DCCPA was sponsored by Sens. Debbie Stabenow and John Boozman earlier this year, and it received massive support from Bankman-Fried himself. If enacted, the bill would expand the US’s Commodity Futures Trading Commission’s role in overseeing the crypto industry alongside the Securities and Exchange Commission.
Still, CFTC Chair Rostin Behnam urged lawmakers to continue to review the legislation. “Given the circumstances of the past few weeks, I think we should take a pause and look at the bill and make sure there are no gaps or no holes,” Behnam said.
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