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Are lawmakers working on cryptocurrency legislation after FTX collapse?

U.S. Senate Agriculture Committee Chair Debbie Stabenow told Reuters on Wednesday thatlawmakers are working through details of cryptocurrency legislation after the FTX collapse. "We certainly want to move as fast as we can," Stabenow said, adding lawmakers "are working on final language."

Should FTX be held accountable?

U.S. Representative Patrick McHenry, the top Republican on the House Financial Services Committee, said, "we must get to the bottom of this for FTX’s customers and the American people. It’s essential that we hold bad actors accountable so responsible players can harness technology to build a more inclusive financial system."

Who will the FTX Advisory Committee hear from?

The committee said it expects to hear from thecompanies and individuals involved, including FTX founder Sam Bankman-Fried, Alameda Research, Binance, FTX and related entities, among others.

What happened to FTX?

"The fall of FTX has posed tremendous harm to over one million users, many of whom were everyday people who invested their hard-earned savings into the FTX cryptocurrency exchange, only to watch it all disappear within a matter of seconds," Financial Services Committee Chair Maxine Waters said.

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