Gensler, like Alan Greenspan at the Fed at the time, is generally not prone to free-form responses. He is a cautious technocrat. Wednesday was different.
He said cryptocurrencies, like bitcoin and ether, are unlikely to be used for payments.
“I’ve taught this stuff at MIT and so on, so I’ll just say this: These debates literally go back to Plato and Aristotle,” he said. “It’s 3,000 years of history. Hundreds of great nations, thousands of nation states – we tend to have one currency per geographic economic state. We tend not to even have bimetallism.”