FTX collapse has created a stir in the entire crypto market.
Sherrod Brown, chairman of the United States Banking Committee, believes the Securities Exchange Commission(SEC) and the Commodity Future Trading Commission(CFTC) should consider a ban on cryptocurrencies.
Brown discussed cryptocurrency during his appearance on NBC’s Meet the Press. He noted that the senator quickly added that a ban would be quite difficult to implement.
“We want them to do what they need to do at the same time, maybe banning it, although banning it is very difficult because it would go offshore, and who knows how that would work.”
The collapse of the cryptocurrency exchange FTX has eroded the beliefs of crypto evangelists from the crypto market.
Sherrod responded to the host’s question on Senator Jon Tester, who also believes that cryptocurrencies should be banned; Brown mentioned that he shares the “same thought.”
The representative of Ohio noted that for the last 18 months, he has
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