PANews reported on July 10 that according to Fox Business reporter Eleanor Terrett, U.S. Senator Cory Booker said: "We have pushed all the work to the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), but abuse in the market is still prevalent." He also pointed out that nearly half of the cases in the CFTC enforcement files are related to cryptocurrencies, calling the situation "unusual."
CFTC Chairman Rostin Behnam commented on Booker’s point that half of the agency’s docket is cryptocurrency enforcement cases, calling it “a shocking statistic that an agency that regulates a trillion-dollar market has to regulate a market where it has no jurisdiction and no access to funding,” and said the situation puts both markets at risk.
Booker then turned to Sens. Stabenow and John Boozman and said, “This is an emergency, so I’m asking us to move faster. If we don’t act, if we don’t do something quickly, more and more people are going to suffer, more and more people are going to lose money.”