The US commodities regulator has urged urgent action against cryptocurrencies

Debbie Stabenow, chair of the Senate Agriculture Committee, said the latest legislative proposals to oversee cryptocurrency markets will be presented to the rest of the committee this week, and the committee's senior Republican said his meetings with crypto industry leaders suggest legislative work may not be ready. Meanwhile, Commodity Futures Trading Commission Chairperson Rostin Behnam urgently testified that Congress needs to act on digital assets.