U.S. House of Representatives Calls for Stronger Regulation of Crypto Markets After FTX Incident

According to The Block, U.S. Rep. Brad Sherman called for greater regulation of the crypto market after the collapse of FTX, “So far, the billionaire crypto brothers have prevented meaningful Legislative efforts are effective.” Brad Sherman believes that FTX’s sudden collapse dramatically demonstrates the inherent risks of digital assets and the key weaknesses in the industry that grows around them. He advocates that Congress and federal regulators take a proactive approach to cryptocurrencies. posed any social threats and plans to review federal legislative options in the coming weeks.