This month, we have great news from the United States about the cryptocurrency market. We may also get more positive news later in the fall. The 6th of October Gary GenslerDuring a House Committee on Financial Services hearing, he confirmed that he was the head of U.S. Securities and Exchange Commission. The regulator won’t ban cryptocurrency, 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. Gensler added that: