A Democratic senator and chair of a key committee asked U.S. Treasury Secretary Janet Yellen for assistance in securing legislation to better regulate cryptocurrency on Wednesday, the latest sign of pressure for tougher regulations following the collapse of crypto exchange FTX. Senator Sherrod Brown of Ohio has also urged the Financial Stability Oversight Council (FSOC), a U.S. regulatory panel comprised of top financial regulators, to look into ways to improve crypto asset disclosures and market integrity. Brown also urged the FSOC in his letter to Yellen to follow through on recommendations made by the council in an October report stemming from US President Joe Biden’s executive order this year “on Ensuring Responsible Development of Digital Assets.”
