A Fox Business crypto reporter said in a post on X that a bill lays out how digital assets would be handled if an exchange or custodian enters bankruptcy. According to the post, the proposal is designed to give customer holdings protections comparable to those applied to traditional financial assets. It would also keep those assets classified as customer property, rather than folding them into a company’s bankruptcy estate. The measure, as described, could help reduce the risk of a repeat of cases similar to FTX, where questions over ownership and treatment of customer assets became central. No additional details about the bill’s text or legislative progress were provided in the brief update.
A Fox Business crypto reporter said in a post on X that a bill sets out rules for handling digital assets if an exchange or custodian goes bankrupt.
According to the post, the bill would help ensure that customer assets receive the same protections as traditional financial assets and remain the property of customers, instead of becoming part of a company’s bankruptcy estate. The reporter added that this could help avoid a repeat of a situation similar to FTX.
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