Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News


Coinbase, FTX, Binance get US House Committee inquiries over consumer protection concerns

The US House Committee on Oversight and Reform has reportedly sent letters to five major cryptocurrency exchanges in the country, asking for details and documents relating to consumer protection measures around crypto scams and fraud.

On 30 August, CNBC highlighted that Coinbase, Binance.US, FTX, Kraken and KuCoin, had all been sent inquiries.

The committee also sent letters to four government agencies – the Department of Treasury, the US Security and Exchange Commission (SEC), the Federal Trade Commission, and the Commodity Futures Trading Commission (CFTC), the report added.

Per the publication, this comes as the committee seeks to take a proactive approach to the issue of ensuring American investors are safe amid the face of growing crypto-related schemes. For instance, an FTC research into fraudulent projects and schemes showed that crypto users have lost over $1 billion since 2021.

The exchanges and the government agencies have until 12 September 2022 to respond, providing pertinent information regarding consumer protection. For the exchanges, the committee requires documents from 1 January 2009, details of which Congress could use to craft legislative solutions.

The post Coinbase, FTX, Binance get US House Committee inquiries over consumer protection concerns appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Tele2 AB today announces a new partnership with security experts EBS to deliver a secure and managed IoT connectivity solution. Tele2 will support EBS...


    Anyone who has filled up the tank of their car this year will be aware of the rollercoaster ride that the price of oil...

    Latest News

    Sen. Patrick Leahy “was not feeling well” on Thursday and was admitted to the hospital overnight for observation, his office said in a statement....

    Latest News

    Joe Manchin is forcing Democrats into a brutal choice: Take a deal now to lower the costs of health care premiums and prescription drugs,...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023