U.S. CFTC Commissioner: Proposed Legislation Should Expand Regulators' Powers to Review Crypto Acquisitions Like LedgerX

Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson called on Congress to amend several pieces of proposed digital asset legislation to expand U.S. regulators’ due diligence on any company (domestic or foreign) seeking to purchase at least 10% of a CFTC-registered market participant The power to investigate, "Specifically using LedgerX as an example, I advocate for legislation that formalizes the obligation to segregate client assets, secures financial resource requirements, and introduces effective governance and risk management controls". Foresight News noted that this month, a Delaware bankruptcy judge ruled that FTX can sell subsidiaries such as derivatives trading platform LedgerX, and the sale is expected to be completed in March.