US Senator Sherrod Brown (D-OH) discussed bitcoin in an interview with NBC on Sunday. Brown chairs the Senate Banking, Housing, and Urban Affairs Committee.
According to him, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) should meet with the Treasury Department to discuss potential actions regarding the cryptocurrency market. The senator made the following remarks on the SEC and the CFTC:
“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 will go offshore and who knows how that will work.” – U.S. Senator Sherrod Brown
The Senate Banking, Housing, and Urban Affairs Committee conducted a hearing last week to investigate the circumstances behind the FTX bitcoin exchange’s demise. On the same day that the Senate Finance Committee held its hearing, the House Financial Services Committee also held a hearing on FTX.
On November 11th, FTX filed for bankruptcy, and Sam Bankman-Fried (SBF), the company’s former CEO, has since been arrested and is being held in the Bahamas. The U.S. government and regulators have filed multiple fraud accusations against him and his crypto company. The United States government is attempting to extradite Bankman-Fried. On Monday, SBF informed the court in the Bahamas that he would not make a decision until he had read all the charges against him.
