The chairman of the U.S. Commodity Futures Trading Commission proposed to re-examine the Digital Commodity Consumer Protection Act

ChainCatcher News, during the first congressional hearing on FTX in the Senate, Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC), stated that his agency could not prevent the collapse of FTX because it is not an entity regulated by his agency.

Behnam urged lawmakers to grant broader powers to directly oversee spot cash market transactions, as these transactions are currently not regulated by any federal agency (tokens considered as securities are regulated by the U.S. Securities and Exchange Commission). Behnam believes that if the Digital Commodities Consumer Protection Act (DCCPA) is enacted, which would prohibit the mixing of customer and company funds, such risks could be avoided. (source link)