Gary Gensler emphasized that the decision to impose tough measures on digital assets must come from Congress.
The US Securities and Exchange Commission (SEC) has no plans to ban cryptocurrencies, its chairman Gary Gensler said in a speech to Congress, Bloomberg reported . Gensler responded to a question from Rep. Ted Budd, who asked if the SEC would follow China's example to impose harsh measures on digital assets.
“We have a completely different approach. Any prohibition would probably have to come from Congress, ”the SEC chairman emphasized.
Last week, Federal Reserve Chairman Jerome Powell announced that the US does not plan to ban cryptocurrencies. During a meeting of the House of Representatives Financial Services Committee, Powell noted that the authorities consider it necessary to tighten control over stablecoins.
At the end of September, the People's Bank of China imposed a complete ban on cryptocurrency transactions. The use of digital assets in the country is now tantamount to illegal activity.