The U.S. Senate Agriculture Committee will hold the hearing while the Financial Services Committee prepares its case.
Now that the dust has settled following the unexpected collapse of FTX, government officials have started to plan hearings on the subject.
Given the size of the now-bankrupt exchange, the hearings will probably cause new regulations which will change the crypto industry from here on out.
Turkey and the Bahamas Authorities have begun their investigations; however, decisions taken by regional watchdogs would probably only affect the operation of crypto exchanges in those jurisdictions.
In contrast, regulations enacted by the U.S. Government would most likely at least set a precedent for other nations and, at best, force changes everywhere, provided a crypto company is headquartered in the U.S.
Therefore, the U.S. Senate Agriculture Committee has decided that the first hearing on the matter of FTX’s collapse will be held on the 1st of December.
Since the Agriculture Committee is indeed an odd regulatory body to be hosting a hearing on matters related to cryptocurrency, the Agriculture Committee will bring in the chairman of the CFTC, Rostin Benham, to weigh in on the matter.