SEC Chair Gary Gensler questioned the sustainability of crypto as the currency of the future during an event at New York University, citing the need for transparency and real-world value through usage. During a Q&A session at NYU’s School of Law on Wednesday, SEC Chair Gary Gensler criticized the crypto sector, stating that digital assets are unlikely to function as currency in the future.
“It seems that assets like these will not become currency,” Gensler said at the event.
“They need to show their value through disclosure, through usage.”
Although Gensler did not comment on how the 2024 U.S. presidential election might affect the SEC or his role, he appeared to take a jab at prominent figures in the crypto industry who have faced criminal charges in recent months.
“With all due respect, the leading figures in this space… are either in jail or awaiting extradition,” Gensler explained.
Hmm, really something.