Gensler confirms SEC won't ban crypto... but Congress could

Representative Tom McHenry believes Gary Gensler’s SEC has disregarded standard practice when going after crypto.
Gary Gensler, the head of the U.S. The Securities and Exchange Commission has confirmed that his agency does not have the authority or intention to ban cryptocurrency.

While responding to questions during an Oct. 5 House Committee on Financial Services hearing, Gensler emphasized that prohibiting crypto does not fall within the SEC’s mandate, stating: “That would be up to Congress.”