SBF-Backed Digital Goods Consumer Protection Act to Be a Major Topic at First FTX Hearing in US Congress

The Digital Goods Consumer Protection Act, backed by Sam Bankman-Fried, will be a major topic at the first U.S. Congressional hearing on the implosion of FTX and the state of the crypto market, The Block reported. While the authors of the Senate bill have pledged to move forward with the bill, other senators are unsure whether they will, with one of the senators who drafted it saying that due to the reality of the congressional calendar, the complexity of the subject matter and the intense debate surrounding it, The bill will not go into effect until next year.