Senator Boozman contrasts futures market with not regulating crypto after FTX collapse

Senate Agriculture Committee Ranking Senator John Boozman says at hearing with Commodity Futures Trading Commission Chairman Rostin Behnam that the choice not to regulate leaves consumers at the mercy of those who would prey upon them, the FTX failure is an unacceptable reoccurrence as consumers and businesses get hurt, so the choice not to regulate or opting for a regulation by enforcement approach drives entities off shores and out of the US regulators purview but when offshore entities fail, US consumers still get hurt and regulators can only watch from afar, the CFTC the right agency to regulate digital commodities when given the necessary authorities with its pragmatic principles based agency approach that enhances consumer protection by building and implementing constructive, workable regulatory structures for markets to function such as over the resilient futures market.