The Senate Agriculture Committee has scheduled a hearing on the recent high-profile collapse of crypto exchange FTX.

Titled "Why Congress Needs to Act: Lessons Learned from the FTX Collapse," the hearing will take place on December 1 and feature testimony from Commodity Futures Trading Commission Chair Rostin Behnam.

The committee's leaders, Debbie Stabenow, D-Mich., and John Boozman, R-Ark., have worked on legislation that would build a CFTC-centered regulatory regime around digital commodities, primarily bitcoin.

Last week the House Financial Services Committee was first to announce a hearing on the high-profile exchange's implosion, which sent reverberations across the industry. The Senate Banking Committee is also weighing a potential hearing on the topic.