Coinbase late Thursday criticised the US Commodity Futures Trading Commission over its proposed rulemaking to ban certain event contracts. Earlier this week, cryptocurrency sceptic Senator Elizabeth Warren joined other Democratic lawmakers in urging CFTC chair Rostin Benham to finalise and implement the rule "quickly" to prevent the "commoditisation of US elections", which they argue "devalue the sanctity of the democratic process". The CFTC voted in May to propose a rule that, if finalized, would ban event contracts that bet on political contests and other areas, such as games, war, terrorism and assassinations. These contracts would not be allowed to be listed, traded or liquidated through CFTC-registered entities.