US Senators Propose the PROOF Act to Prevent Another FTX Incident

US Senators introduced the PROOF Act, which would require crypto exchanges to submit to monthly reserve audits and stop co-mingling consumer funds. These safeguards would help prevent another incident like the FTX collapse. Two senators, Republican Thom Tillis and Democrat John Hickenlooper, introduced the bill. This joint effort represents a growing bipartisan consensus that pro-crypto regulation is a top priority source: https://beincrypto.com/proof-act-crypto-exchange-regulation-ftx-collapse/