CFTC Chair Reassures Crypto Industry with No Outlawing Plans in US

The Commodity Futures Trading Commission (CFTC) has made it clear that virtual assets will not be outlawed in the US. In an interview, CFTC Chair Mike Selig stated that there is 'very little chance' of crypto being banned in the country.

This development comes as the US government works to establish a framework for regulating digital assets. Selig highlighted the importance of creating conditions where citizens' Bitcoin and other virtual currencies are protected from seizure by the government.

Selig also emphasized the need for updated laws that prevent situations like Operation Choke Point, where banks were accused of pressuring crypto firms during the previous administration. He cited the CLARITY Act and GENIUS Act as examples of necessary legal guidelines.