Gensler’s SEC Hearing Shows Key U.S. Senate Democrat Brown Digging in Heels on Crypto

“The problems we saw at FTX are everywhere in crypto – the failure to provide real disclosure, the conflicts of interest, the risky bets with customer money that was supposed to be safe,” said Brown, the Senate Banking Committee’s chairman, whose committee will probably have to agree to any crypto legislation to provide the industry a regulatory framework. “FTX was just the biggest and the ugliest.”