Even if cybercurrency exchange company FTX did not have a regulatory scheme, it still had to follow the laws of the land; and it may become necessary next year for the House Financial Services Committee to subpoena FTX founder Sam Bankman-Fried to testify, Rep. Pete Sessions said on Newsmax Thursday.
“One year ago today, there was a panel that gave testimony of all my direct questioning about the ability that we had to avoid fraud and the panel agreed,” the Texas Republican told Newsmax’s “National Report.” “Well, just transparency is all that’s necessary. That transparency did not work.”
Sessions’ comments come after The New York Times reported Thursday that Bankman-Fried, also known as “SBF,” is facing a federal investigation into potential market manipulation charges, with federal prosecutors examining whether his actions influenced trading in cryptocurrencies, leading to FTX’s collapse.
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