Banking Committee chairman Sherrod Brown made the suggestion throughout an look on NBC’s “Meet the Press.”
He nevertheless acknowledged that it will be “very difficult” to ban crypto since they might merely “go offshore.”
Brown has been calling for imminent and aggressive motion to be taken on crypto for the final 18 months.
During a December 18 look on NBC’s “Meet the Press,” United States Banking Committee chairman Sherrod Brown proposed that the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission (SEC) ought to probably contemplate a ban on cryptocurrencies.
Brown, who can be the Ohio consultant, was responding to a query about Senator Jon Tester who has beforehand mentioned that cryptocurrencies needs to be banned. Brown nevertheless famous that banning crypto could be tough for the reason that enterprise would go offshore if it had been banned within the US. He mentioned:
“We want them to do what they need to do at the same time, maybe banning it, although banning it is very difficult because it would go offshore, and who knows how that would work.”
Calling for an aggressive motion
Over the final 18 months, the Ohio consultant has been attempting to inform his House colleagues in regards to the risks of cryptocurrencies and calling for aggressive motion to be taken.
Brown mentioned:
“I’ve already gone to the Treasury and the Secretary and asked for a government-wide assessment through all the various regulatory agencies. … The SEC has been particularly aggressive, and we need to move forward that way and legislatively if it comes to that.”
The consultant cited the current FTX collapse saying that’s an instance of why a ban could be value contemplating. He additionally argued that cryptocurrencies had been a menace to nationwide safety citing North Korean cybercriminal exercise which have largely use crypto. He additionally cited human trafficking, drug trafficking, and terrorism financing.
