Gensler stated that it's unlikely cryptocurrencies will serve as widely used payment methods and will likely remain viewed more as a store of value.
He mentioned that cryptocurrency's value will have to be demonstrated through disclosures, similar to how we evaluate thousands of securities on the stock exchange.
Citing Gresham's law, Gensler explained that typically, nations prefer having one currency due to economies of scale, and cryptocurrencies may not fulfill this role.
Emphasizing an enforcement approach, he questioned whether laws would be upheld without regulatory oversight, highlighting the significance of having regulatory agencies in the crypto space.
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