Pat Toomey: “Sanctions are a means to an end, and Congress and the Administration must be clear as to what that end is.”

There was unauthorized lending of customer assets to an affiliated entity, and there were apparently fraudulent promises to investors and customers about FTX's operations.

Congress can and should offer a sensible approach for the domestic regulation of these activities.

I think there is a case to be made that there should be a regulatory regime on disclosure requirements for an issuer.

I think that there are a number of ways that you can go about creating a regulatory regime to take account of that risk.