Sen. Sherrod Brown sent a letter to Treasury Secretary Janet Yellen urging her to help work on cryptocurrency legislation after the FTX fallout. In the letter to the Treasury Chief, Mr. Brown, told Ms. Yellen to incorporate recommendations from the Financial Stability Oversight Committee.
Senate Banking Committee Chairman Sherrod Brown urged Treasury Secretary Janet Yellen on November 30, 2022 to work with lawmakers and financial regulators to help write legislation to rule in the cryptocurrency market in the wake of the collapse of crypto exchange FTX.
The letter included legislation that would “create authorities for regulators to have visibility into, and otherwise supervise, the activities of the affiliates and subsidiaries of crypto asset entities,” with financial regulators, such as the Securities and Exchange Commission and the Federal Reserve Board.
Mr. Brown sent the letter the day before Congress held its first hearing on FTX’s fallout. The Senate Agriculture Committee
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