The FTX collapse has reignited a power struggle between the two federal agencies—the Commodities Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Many in the crypto business have pointed to the fact that the two agencies have been battling for domain over digital assets for a long time, which may be one of the reasons for the delay in regulating the crypto market.
Last week kicked off the first congressional hearing related to the failed crypto exchange since it declared bankruptcy in early November. CFTC Chair Rostin Behnam, as the sole witness of the hearing, fielded questions from a bipartisan panel of U.S. senators, including Chuck Grassley (R-Iowa), Amy Klobuchar (D-Minn.), and Cory Booker (D-N.J.)….