Securities and Exchange Commission (SEC) Chair Gary Gensler told Congress on Tuesday that his agency would not follow China’s lead in implementing a ban on cryptocurrencies. Speaking before the United States House of Representatives Committee on Financial Services, Gensler was asked by Rep. Ted Budd (R-N.C.), a supporter of cryptocurrencies, whether the SEC would move to prohibit the digital currencies. “No, that would be up to Congress,” Gensler said, adding: “I am technology-neutral. I think that this technology has been and can continue to be a catalyst for change, but technologies don’t last long if they stay outside of the regulatory framework.” “I believe that the SEC, working with the CFTC [Commodity Futures Trading Commission] and others, can stand up more robust oversight and investor protection around the field of crypto finance.” Gensler did express some concern over the crypto market, noting that “right now, large parts of the field of crypto are sitting astride …
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