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According to The Block, the bipartisan authors of Senate legislation that would increase oversight of cryptocurrencies considered to be digital commodities in the U.S., like bitcoin, plan to move forward with the bill. Embattled FTX CEO Sam Bankman-Fried had been the strongest industry proponent of the bill, known as the Digital Commodities Consumer Protection Act. The bill would grant the Commodity Futures Trading Commission, one of the two U.S. markets regulators, more power over cryptocurrency markets and exchanges. Senate Agriculture Committee Chair Debbie Stabenow, D-Mich said that she is working with her Republican counterpart on the committee, Sen. John Boozman, R-Ark., and regulators to finalize the bill in preparation for a committee vote. Boozman also committed to move forward on the bill in his own Thursday night statement.

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【U.S. Senators moving forward with SBF-backed bill after FTX collapse】According to The Block, the bipartisan authors of Senate legislation that would increase oversight of cryptocurrencies considered to be digital commodities in the U.S., like bitcoin, plan to move forward with the bill. Embattled FTX CEO Sam Bankman-Fried had been the strongest industry proponent of the bill, known as the Digital Commodities Consumer Protection Act. The bill would grant the Commodity Futures Trading Commission, one of the two U.S. markets regulators, more power over cryptocurrency markets and exchanges. Senate Agriculture Committee Chair Debbie Stabenow, D-Mich said that she is working with her Republican counterpart on the committee, Sen. John Boozman, R-Ark., and regulators to finalize the bill in preparation for a committee vote. Boozman also committed to move forward on the bill in his own Thursday night statement.

U.S. Senators moving forward with SBF-backed bill after FTX collapse

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