{"id":585,"date":"2022-05-02T20:13:45","date_gmt":"2022-05-02T20:13:45","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/05\/02\/the-sec-will-not-ban-crypto-that-would-be-up-to-congress-says-gary-gensler\/"},"modified":"2022-05-02T20:13:45","modified_gmt":"2022-05-02T20:13:45","slug":"the-sec-will-not-ban-crypto-that-would-be-up-to-congress-says-gary-gensler","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/05\/02\/the-sec-will-not-ban-crypto-that-would-be-up-to-congress-says-gary-gensler\/","title":{"rendered":"The SEC Will Not Ban Crypto, That Would Be Up To Congress, Says Gary Gensler"},"content":{"rendered":"

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The Securities and Exchange Commission\u2019s Chairman, Gary Gensler, instructed Congress that the SEC won’t ban cryptocurrencies. This is a large aid, regardless that Gensler then mentioned \u201c<\/span>that would be up to Congress.<\/span><\/i>\u201d The SEC Chairman is in the midst of fairly the press tour, spreading his opinions on crypto round, clarifying his stance. Those opinions had lots of people apprehensive, however as we speak Gensler particularly mentioned an outright ban isn\u2019t on the playing cards.<\/span><\/p>\n

Related Reading | SEC\u2019s Gary Gensler Crumbles When Asked If Ethereum Is A Security<\/a><\/strong><\/em><\/p>\n

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SEC Chair: No curiosity in a crypto ban pic.twitter.com\/9a4v4oSig4<\/a><\/p>\n

\u2014 Blockworks (@Blockworks_) October 5, 2021<\/a><\/p>\n<\/blockquote>\n

The SEC Chairman spoke for 4 hours with the House Committee on Financial Services. At one level, Rep. Ted Budd requested him point-blank:<\/span><\/p>\n

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\u201c<\/span>But, no bans that you\u2019re interested in implementing via the SEC? As China has done, really, to funnel everyone through their own digital currency<\/span><\/i>\u201d<\/span><\/p>\n<\/blockquote>\n

And Gary Gensler answered:<\/span><\/p>\n

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\u201c<\/span>No, I mean, that would be up to Congress. What we\u2019re really working with are the authorities that you\u2019ve given us. And I\u2019ve said this, I think that many of these tokens \u2013 based on the facts and circumstances \u2013 do meet the test of being an investment contract, or a note, or some other form of Security. That we bring them within the investor protection remit of the SEC.<\/span><\/i>\u201d\u00a0<\/span><\/p>\n<\/blockquote>\n

In brief, the SEC is making an attempt to manage and management. Not to ban.<\/span><\/p>\n