Pat Toomey: “Our offices are frequented by small banks and credit unions who are struggling under a regulatory regime that hasn't…”

It is absolutely essential to investigate any fraud and violations of existing law, and prosecute those who are committing those crimes.

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.

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

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