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Statement of Chairwoman Debbie Stabenow Senate Agriculture, Nutrition and Forestry Committee

WASHINGTON – Today, U.S. Senator Debbie Stabenow (D-Mich.), Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, released the following statement.

“The recent collapse of a major cryptocurrency exchange reinforces the urgent need for greater federal oversight of this industry. Consumers continue to be harmed by the lack of transparency and accountability in this market. It is time for Congress to act. The Committee, remains committed to advancing the Digital Commodities Consumer Protection Act to bring necessary safeguards to the digital commodities market. I am working closely with Ranking Member Boozman, our Committee members, and financial regulators to finalize and prepare this legislation for a Committee vote. Until legislation is enacted, I encourage all financial regulators to use their current authorities to the fullest extent to regulate and prosecute misconduct in these markets.”