CFTC Chairman says Crypto is a potential Threat to National Security after FTX Disaster

Hey Peeps!

On December 1st, the US Senate Agriculture Committee held a hearing that was titled "Why Congress needs to ACT - Lessons from the FTX collapse".

During the hearing, the Chairman of the Commodities Futures Trading Commission, Rostin Behnam, said that cryptocurrency is "potentially a threat to national security”. 

To give context, Behnam responded after being asked point-blank if cryptocurrency was a threat to national security, by Senator Roger Wayne Marshall.

The moment can be found at the 50:45 minute mark in the video. 

Check out the full video of the Congressional hearing on Crypto:

“Folks will find a way to get exposure to offshore entities and activities, even if it’s prohibited in the U.S. - and we have to do something about that.” - Rostin Behnam, Chairman of the CFTC

This hearing was not good news for fans of decentralization. 

There was a lot of fear-mongering and pushes for oversight and regulations. 

I expect to see a wave of stricter laws focused on reeling in cryptocurrency and its freedoms. 

What do you guys think? 

Do you think Crypto is a threat to national security?

Or is this just a tactic to make it easier for government to get involved?

See ya!

:)