The US Senate Banking Committee’s digital assets subcommittee will hear testimony from former CFTC Chair Rostin Behnam and lawyers at Coinbase and Multicoin Capital.
On Tuesday, the US Senate Banking Committee’s digital assets subcommittee is scheduled to hear testimony from former regulators and industry leaders in consideration of legislation to establish a digital asset market structure framework.
In prepared testimony for the Tuesday hearing, former Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam said the regulator’s “current trajectory [was] not sustainable” without addressing gaps for cryptocurrencies. He suggested that lawmakers consider market structure requirements focusing on “customer protections, avoidance of conflicts of interest, and market resiliency.”
“[…] I do not believe public interest for digital assets will wane; inaction will only result in greater risk to our financial markets and investors, through lack of market transparency, fraud, market manipulation, corruption, and conflicts of interest,” the testimony reads.
