WASHINGTON— U.S. federal agencies such as the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), should consider a ban on cryptocurrencies, according to Sen. Sherrod Brown (D-OH).
Brown, during a Meet the Press interview, also acknowledged this ban would be “very difficult” because the crypto industry could then go offshore, according to a report by Decrypt.
“We want (federal agencies) to do what they need to do at the same time–maybe banning it, although banning it is very difficult because it will go offshore and who knows how that will work,” Brown said.
According to Decrypt, the senator also pointed to numerous incidents to back up his claims, such as the collapse of FTX and “the threat to national security from Korean cyber criminals to drug trafficking and human trafficking and financing of terrorism and all the things that can come out of crypto.”
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