U.S. Digital Chamber Writes to Congress, Urges Legislation Authorizing CFTC Oversight of Crypto Exchanges

TechFlow report, Oct. 31 — According to a public letter from The Digital Chamber, its CEO Cody Carbone wrote to leaders of the House and Senate on Oct. 30 local time, citing the approximately $6.3 billion Binance theft and urging Congress to pass a dedicated bill before the current recess.

The letter calls for granting the CFTC authority over the registration, examination, and enforcement of U.S. digital commodity exchanges, requiring segregation of customer assets from company assets, protection of customer assets in bankruptcy, and establishment of basic security standards.

Additionally, U.S. Senator Lummis said on X that the Clarity Act could provide legal protection for crypto companies to immediately freeze suspicious transactions upon notification from law enforcement.

Source: TechFlow