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InvestmentsThe United States will become the global crypto and blockchain leader By...

The United States will become the global crypto and blockchain leader By Cointelegraph



We have some nice information popping out of the United States on the cryptocurrency business this month with doubtlessly extra excellent news coming later this fall. On Oct. 6, Gary Gensler, head of the U. S. Securities and Exchange Commission (SEC), confirmed throughout a House Committee on Financial Services listening to that the regulator will not ban cryptocurrency, doubtlessly blazing the path for the world’s largest economic system to become the global leader in the improvement of decentralized finance (DeFi) and blockchain applied sciences.

Gensler, who taught a category on cryptocurrency at MIT, additionally mentioned that prohibiting cryptocurrency doesn’t fall beneath the SEC’s mandate and the solely approach to legally ban digital property can be by way of Congress. “It’s a matter of how we get this field within the investor consumer protection that we have and also working with bank regulators and others — how do we ensure that the Treasury Department has it within Anti-Money Laundering, tax compliance,” Gensler mentioned. He additionally added:

Raymond Hsu is the co-founder and CEO at Cabital, a cryptocurrency wealth administration platform. Prior to co-founding Cabital in 2020, Raymond labored for fintech and conventional banking establishments, together with Citibank, Standard Chartered (OTC:) Bank, eBay (NASDAQ:) and Airwallex.