Securities and Exchange Commission (SEC) Chair Gary Gensler has had multiple dust-ups with crypto firms, but even he says the U.S. won't follow China's lead in banning digital tokens. Gensler said Tuesday that the government's focus is on ensuring that the industry adheres to investor and consumer protection rules, anti-money laundering (AML) regulations, and tax laws.
He made the comments at a House hearing after a Republican lawmaker asked if a China-like prohibition was on the table in the United States.
"Our approach is really quite different," Gensler said. He added that any ban would probably have to be legislated by Congress.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
