CFTC president warns of conflict of interests, as the Senate weighs the market structure
On Tuesday, the sub -committee of the digital assets of the US Senate Banking Committee is scheduled to hear testimonies from former organizers and industry leaders to consider legislation to create a framework of the digital asset market structure.
In a certificate prepared for the Tuesday session, Chairman of the previous futures trading committee (CFTC) Rosen Behnam He said The current path of the regulator [was] Not sustainable “without treating gaps in cryptocurrencies. He suggested that legislators look at the requirements of the market structure that focuses on” protecting customers, avoiding interests and market flexibility. “
“[…] I do not think that the public interest of digital assets will fade; The inaction will not increase the risks to our financial markets and investors, by the lack of transparency in the market, fraud, manipulation of the market, corruption, and conflicts of interests, “says martyrdom.
“With the continued digital assets market in weaving itself to traditional financial institutions, concerns related to the broadest flexibility in the market will grow and perhaps even financial stability.”
The session will come to consider the framework of the Senate Market Temple as the House of Representatives Weighs her own billClarity of the digital assets market, or the law of clarity. The draft law has moved outside the committee in June, and it is expected that it will go to the floor’s vote soon.
Related to: Democratic Senator Bell provides Trump’s encryption relationships
According to the Republican leadership on the sub -committee for digital assets, “any bill must be devoted to dealing with the structure of the encryption market clearly the legal status of digital assets”, and allocating an authority between the organizers to prevent a “comprehensive organization from youngsters”, and focus on protecting those who trade or buy Crypto.
“While the European Union and Singapore have created clear lists, the United States continues to sit on the margin while the digital asset industry is seeking to obtain more green pastures,” said Sinator Sinator Centum Lomes, who heads the sub -committee for digital assets. “This changes today.”
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Many Democrats are still voting for the projects of encryption projects amid Trump’s relations with the industry
The Senate’s efforts to create “two parties” legislation of the Temple Market structure have followed many Democrats Voting with Republicans To pass an involvement involvement. On June 17, the Chamber approved the guidance and creation of the national innovation of US Stablecoin, or the Genius Act, which will go to the next home to look at.
Massachusetts Elizabeth Warren, a member of the Banking Committee and the legislator who criticizes US President Donald Trump’s relations with the encryption industry, can address some conflicts of interests in Tuesday’s session. Warren Voice against the Genius Law and his and his Call the president Regarding his family’s share and controlling World Liberty Financial, which is also a source of chest.
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