@SoVee 6 October 2021 Crypto and the law more from that month

The head of the SEC announced the absence of plans to ban cryptocurrencies. Gary Gensler stressed that the decision to impose tough measures on digital assets should come from Congress. The U.S. Securities and Exchange Commission (SEC) has no plans to ban cryptocurrencies, its chairman Gary Gensler said during a speech to Congress, Bloomberg reports. Gensler answered a question from Ted Budd, a member of the House of Representatives, who asked whether the SEC, following the example of China, would introduce tough measures against digital assets. "We have a completely different approach. Any ban should probably come from Congress," the SEC chairman stressed. Last week, the chairman of the Federal Reserve System (FRS) Jerome Powell said that the United States does not plan to ban cryptocurrencies. During a meeting of the Financial Services Committee of the House of Representatives, 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 conducting cryptocurrency transactions. The use of digital assets in the country is now equated to illegal activities.