The SEC chief says the United States will not ban cryptocurrencies

Said Gary Jensler, chairman of the U.S. Securities and Exchange Commission At the court hearing This Tuesday (5th) the SEC will not follow the example of China and will not ban cryptocurrencies.

Kensler said the government is focused on ensuring that industry adheres to investor protection rules, anti-money laundering rules and tax laws.

Zensler made the comment while answering a question during a home hearing after a Republican legislator asked if a ban similar to China was being considered.

“US and China approaches ‘very different’ when regulating cryptocurrencies, This Jensler.

He said SEC was simply trying to bring in cryptocurrencies “Investor Protection Area” By SEC.

United States

China’s recent decision to ban cryptocurrency transactions has sparked debate over whether a similar policy could be implemented in the United States.

The SEC President’s speech on not banning cryptocurrencies is in line with the US Federal Reserve Chairman’s statement.

Last week, US Federal Reserve Chairman Jerome Powell addressed the issue directly, declaring that “there is no intention” to ban cryptocurrencies, although staple coins may be regulated.

“Our attitude is very different.”, Kensler said. He said any ban should come from the US Congress.

When asked about regulating cryptocurrencies, Jensler reiterated his position that brokers should register with the SEC, and that decentralized transactions (DEX) are also subject to regulations.

“Even decentralized sites — so-called defi sites — have a centralized protocol, and I think these are the places where we can get the most out of public policy while not taking them into custody (as centralized brokers do).

Bitcoin

Zensler’s speech is good news for the weekend, which will boost Bitcoin as much as the central bank chairman’s comments last week.

Restrictions on cryptocurrencies Most governments need to understand the fact that they can only ban working with cryptocurrencies. Bitcoin’s distributed network allows peer-to-peer transactions regardless of government policy.