SEC Chief Signals Crypto Ban Like China’s Won’t Happen in U.S.

Securities and Exchange Commission 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 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 U.S.

WATCH: SEC Chair Gary Gensler says the U.S. won’t follow China’s lead when it comes to crypto.

Source: Bloomberg)

“Our approach is really quite different,” Gensler said. He added that any ban would probably have to be legislated by Congress. ...