There are some fantastic news out from America regarding the cryptocurrency industry, with more to come later in the autumn. The 6th of October Gary GenslerDuring a House Committee on Financial Services hearing in which he was confirmed as the U. S. Securities and Exchange Commission’s (SEC) head, It will not be banned by the regulator, potentially blazing the path for the world’s largest economy to become the global leader in the development of decentralized finance (DeFi) and blockchain technologies.

Gensler, who taught a class on cryptocurrency at MIT, also said that prohibiting cryptocurrency doesn’t fall under the SEC’s mandate and the only way to legally ban digital assets would be through 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 said. He added the following: