Will there be a ban on Crypto- what does SEC has to say?

In recent days, a piece of news was circulating the market. It said that the SEC might ban cryptocurrencies. SEC chair Gary Gensler clarifies to the House Committee that while SEC has no such plans in the near future, the US Congress might.

Gensler’s comment mirrors what Jerome Powell (Federal Reserve Chair) has said last week.

There’s an ongoing debate on Capitol Hill on whether the SEC should have stricter regulations for cryptocurrencies or not.

He mostly restated his thoughts on the matter and described topics like cryptocurrency rules and regulations, and SEC’s authority. He said that all cryptocurrency exchanges must be enlisted with the body, and they operate under some regulations to ensure customer satisfaction.