UBS: U.S. Congress expects to take a long time to pass cryptocurrency legislation

Switzerland’s largest bank UBS released its views on U.S. cryptocurrency legislation on Friday, Feb. 14. UBS said it expects the U.S. Congress to take a long time to pass cryptocurrency legislation. It will take time for lawmakers to digest the complexities of these issues and reconcile potential disagreements over how digital assets should be regulated. Earlier, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), said in an interview with Bloomberg that the securities regulator is working with the Commodity Futures Trading Commission (CFTC) on cryptocurrency regulation.